{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\Brendan\Desktop\ISQ Log File.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res} 3 Jun 2019, 14:30:15

{com}. do "C:\Users\Brendan\Dropbox\Working Papers\Sovereign Haircuts\FINAL ACCEPTANCE\ISQ Replication File.do"
{txt}
{com}. ************Electoral Rules************
. ********Interest Group Pressures*******
. **and the Price of Democratic Default**
. ***********BRENDAN J CONNELL***********
. ***************ISQ*********************
. ***********Replication File************
. *************June, 2019****************
. 
. clear
{txt}
{com}. use "C:\Users\Brendan\Dropbox\Working Papers\Sovereign Haircuts\FINAL ACCEPTANCE\ISQ Data.dta"
{txt}
{com}. 
. //TABLES
. 
. *Table 3
. probit debtentry total2 currentaccount logforex gdpgrowth loggdppc if democratic==1, cluster(ccode)

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res: -269.7995}  
Iteration 1:{space 3}log pseudolikelihood = {res:-241.13033}  
Iteration 2:{space 3}log pseudolikelihood = {res:-239.97324}  
Iteration 3:{space 3}log pseudolikelihood = {res:-239.96905}  
Iteration 4:{space 3}log pseudolikelihood = {res:-239.96905}  
{res}
{txt}Probit regression{col 49}Number of obs{col 67}= {res}     1,416
{txt}{col 49}Wald chi2({res}5{txt}){col 67}= {res}     38.32
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-239.96905{txt}{col 49}Pseudo R2{col 67}= {res}    0.1106

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}     debtentry{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}total2 {c |}{col 16}{res}{space 2} .0225508{col 28}{space 2} .0041586{col 39}{space 1}    5.42{col 48}{space 3}0.000{col 56}{space 4} .0144002{col 69}{space 3} .0307015
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000173{col 28}{space 2} 5.15e-06{col 39}{space 1}    3.35{col 48}{space 3}0.001{col 56}{space 4} 7.16e-06{col 69}{space 3} .0000273
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1405279{col 28}{space 2}  .050921{col 39}{space 1}   -2.76{col 48}{space 3}0.006{col 56}{space 4}-.2403311{col 69}{space 3}-.0407246
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0228648{col 28}{space 2} .0107594{col 39}{space 1}   -2.13{col 48}{space 3}0.034{col 56}{space 4}-.0439528{col 69}{space 3}-.0017767
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-.0270361{col 28}{space 2} .0716181{col 39}{space 1}   -0.38{col 48}{space 3}0.706{col 56}{space 4}-.1674049{col 69}{space 3} .1133328
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} -.491937{col 28}{space 2} .4377572{col 39}{space 1}   -1.12{col 48}{space 3}0.261{col 56}{space 4}-1.349925{col 69}{space 3} .3660514
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. estat class, cutoff(0.5) //% Correctly Predicted

{txt}Probit model for debtentry

{col 15}{hline 8} True {hline 8}
Classified {c |}{col 22}D{col 35}~D  {c |}{col 46}Total
{hline 11}{c +}{hline 26}{c +}{hline 11}
{col 6}+{col 12}{c |} {res}        2{col 28}        5{txt}  {c |}  {res}        7
{txt}{col 6}-{col 12}{c |} {res}       65{col 28}     1344{txt}  {c |}  {res}     1409
{txt}{hline 11}{c +}{hline 26}{c +}{hline 11}
   Total   {c |} {res}       67{col 28}     1349{txt}  {c |}  {res}     1416

{txt}Classified + if predicted Pr(D) >= .5
True D defined as debtentry != 0
{hline 50}
Sensitivity                     Pr( +| D){res}    2.99%
{txt}Specificity                     Pr( -|~D){res}   99.63%
{txt}Positive predictive value       Pr( D| +){res}   28.57%
{txt}Negative predictive value       Pr(~D| -){res}   95.39%
{txt}{hline 50}
False + rate for true ~D        Pr( +|~D){res}    0.37%
{txt}False - rate for true D         Pr( -| D){res}   97.01%
{txt}False + rate for classified +   Pr(~D| +){res}   71.43%
{txt}False - rate for classified -   Pr( D| -){res}    4.61%
{txt}{hline 50}
Correctly classified                     {res}   95.06%
{txt}{hline 50}

{com}. lroc debtentry //AUC
{res}
{txt}Probit model for debtentry

number of observations = {res}    1416
{txt}area under ROC curve   = {res}  0.8013
{txt}
{com}. 
. *Table 4
. reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1, cluster(ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}F(5, 23)          =  {res}     2.60
                                                {txt}Prob > F          = {res}    0.0524
                                                {txt}R-squared         = {res}    0.3132
                                                {txt}Root MSE          =    {res} 25.128

{txt}{ralign 78:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.841327{col 26}{space 2} 1.168509{col 37}{space 1}   -2.43{col 46}{space 3}0.023{col 54}{space 4}-5.258573{col 67}{space 3}-.4240813
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 5.982679{col 26}{space 2} 12.31916{col 37}{space 1}    0.49{col 46}{space 3}0.632{col 54}{space 4}-19.50144{col 67}{space 3}  31.4668
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 18.65703{col 26}{space 2} 14.69181{col 37}{space 1}    1.27{col 46}{space 3}0.217{col 54}{space 4} -11.7353{col 67}{space 3} 49.04936
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-13.15136{col 26}{space 2} 7.077985{col 37}{space 1}   -1.86{col 46}{space 3}0.076{col 54}{space 4}-27.79329{col 67}{space 3} 1.490564
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} 1.190669{col 26}{space 2} 3.939598{col 37}{space 1}    0.30{col 46}{space 3}0.765{col 54}{space 4}-6.959011{col 67}{space 3} 9.340349
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 118.4275{col 26}{space 2} 90.69784{col 37}{space 1}    1.31{col 46}{space 3}0.205{col 54}{space 4}-69.19529{col 67}{space 3} 306.0503
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODEL1, title((1))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-441.33118}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-438.54775}  
Iteration 2:{space 3}log pseudolikelihood = {res:-438.21808}  
Iteration 3:{space 3}log pseudolikelihood = {res:-437.86534}  
Iteration 4:{space 3}log pseudolikelihood = {res:-437.85821}  
Iteration 5:{space 3}log pseudolikelihood = {res:-437.85821}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}5{txt})      =  {res}    32.61
{txt}Log pseudolikelihood = {res}-437.8582                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.558953{col 28}{space 2} .9729841{col 39}{space 1}   -3.66{col 48}{space 3}0.000{col 56}{space 4}-5.465967{col 69}{space 3}-1.651939
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}    4.055{col 28}{space 2} 10.26651{col 39}{space 1}    0.39{col 48}{space 3}0.693{col 56}{space 4}  -16.067{col 69}{space 3} 24.17699
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 12.25207{col 28}{space 2} 11.90443{col 39}{space 1}    1.03{col 48}{space 3}0.303{col 56}{space 4}-11.08019{col 69}{space 3} 35.58433
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-19.89246{col 28}{space 2} 5.746715{col 39}{space 1}   -3.46{col 48}{space 3}0.001{col 56}{space 4}-31.15582{col 69}{space 3} -8.62911
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.630712{col 28}{space 2} 3.769871{col 39}{space 1}   -0.43{col 48}{space 3}0.665{col 56}{space 4}-9.019524{col 69}{space 3} 5.758099
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 275.9094{col 28}{space 2} 95.95153{col 39}{space 1}    2.88{col 48}{space 3}0.004{col 56}{space 4} 87.84789{col 69}{space 3}  463.971
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0213562{col 28}{space 2}  .003982{col 39}{space 1}    5.36{col 48}{space 3}0.000{col 56}{space 4} .0135517{col 69}{space 3} .0291607
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1531071{col 28}{space 2} .0557515{col 39}{space 1}   -2.75{col 48}{space 3}0.006{col 56}{space 4}-.2623779{col 69}{space 3}-.0438362
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0337633{col 28}{space 2} .0706863{col 39}{space 1}    0.48{col 48}{space 3}0.633{col 56}{space 4}-.1047793{col 69}{space 3} .1723058
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000218{col 28}{space 2} 4.71e-06{col 39}{space 1}    4.62{col 48}{space 3}0.000{col 56}{space 4} .0000125{col 69}{space 3}  .000031
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0123603{col 28}{space 2} .0112602{col 39}{space 1}   -1.10{col 48}{space 3}0.272{col 56}{space 4}-.0344299{col 69}{space 3} .0097092
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-.9972822{col 28}{space 2} .4860255{col 39}{space 1}   -2.05{col 48}{space 3}0.040{col 56}{space 4}-1.949875{col 69}{space 3}-.0446897
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.243752{col 28}{space 2} .2453627{col 39}{space 1}   -5.07{col 48}{space 3}0.000{col 56}{space 4}-1.724654{col 69}{space 3}-.7628499
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.521909{col 28}{space 2} .1256385{col 39}{space 1}   28.03{col 48}{space 3}0.000{col 56}{space 4} 3.275662{col 69}{space 3} 3.768156
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8465223{col 28}{space 2} .0695358{col 56}{space 4} -.938421{col 69}{space 3}-.6427526
{txt}         sigma {c |}{col 16}{res}{space 2} 33.84899{col 28}{space 2} 4.252736{col 56}{space 4} 26.46075{col 69}{space 3} 43.30015
{txt}        lambda {c |}{col 16}{res}{space 2}-28.65393{col 28}{space 2} 5.744745{col 56}{space 4}-39.91342{col 69}{space 3}-17.39444
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   25.70   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODEL2, title((2))
{txt}
{com}. heckman haircut persrank pr rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-441.31303}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-438.49852}  
Iteration 2:{space 3}log pseudolikelihood = {res:-438.16463}  
Iteration 3:{space 3}log pseudolikelihood = {res:-437.82212}  
Iteration 4:{space 3}log pseudolikelihood = {res:-437.81529}  
Iteration 5:{space 3}log pseudolikelihood = {res:-437.81529}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    33.34
{txt}Log pseudolikelihood = {res}-437.8153                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.847424{col 28}{space 2} 1.492686{col 39}{space 1}   -2.58{col 48}{space 3}0.010{col 56}{space 4}-6.773034{col 69}{space 3}-.9218136
{txt}{space 12}pr {c |}{col 16}{res}{space 2}-3.665453{col 28}{space 2} 11.87527{col 39}{space 1}   -0.31{col 48}{space 3}0.758{col 56}{space 4}-26.94055{col 69}{space 3} 19.60965
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 4.341248{col 28}{space 2} 10.37022{col 39}{space 1}    0.42{col 48}{space 3}0.675{col 56}{space 4}-15.98401{col 69}{space 3} 24.66651
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 12.19516{col 28}{space 2}  11.9771{col 39}{space 1}    1.02{col 48}{space 3}0.309{col 56}{space 4}-11.27953{col 69}{space 3} 35.66985
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} -19.8978{col 28}{space 2} 5.682313{col 39}{space 1}   -3.50{col 48}{space 3}0.000{col 56}{space 4}-31.03493{col 69}{space 3}-8.760674
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.235522{col 28}{space 2} 4.024158{col 39}{space 1}   -0.31{col 48}{space 3}0.759{col 56}{space 4}-9.122727{col 69}{space 3} 6.651683
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}  273.914{col 28}{space 2} 97.19622{col 39}{space 1}    2.82{col 48}{space 3}0.005{col 56}{space 4} 83.41289{col 69}{space 3} 464.4151
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0213116{col 28}{space 2}  .004011{col 39}{space 1}    5.31{col 48}{space 3}0.000{col 56}{space 4} .0134503{col 69}{space 3}  .029173
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} -.153094{col 28}{space 2} .0556866{col 39}{space 1}   -2.75{col 48}{space 3}0.006{col 56}{space 4}-.2622378{col 69}{space 3}-.0439502
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0338819{col 28}{space 2} .0706588{col 39}{space 1}    0.48{col 48}{space 3}0.632{col 56}{space 4}-.1046068{col 69}{space 3} .1723705
{txt}currentaccount {c |}{col 16}{res}{space 2}  .000022{col 28}{space 2} 4.67e-06{col 39}{space 1}    4.72{col 48}{space 3}0.000{col 56}{space 4} .0000129{col 69}{space 3} .0000312
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0120002{col 28}{space 2} .0108293{col 39}{space 1}   -1.11{col 48}{space 3}0.268{col 56}{space 4}-.0332253{col 69}{space 3}  .009225
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-.9992646{col 28}{space 2} .4856677{col 39}{space 1}   -2.06{col 48}{space 3}0.040{col 56}{space 4}-1.951156{col 69}{space 3}-.0473734
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.248825{col 28}{space 2} .2561593{col 39}{space 1}   -4.88{col 48}{space 3}0.000{col 56}{space 4}-1.750888{col 69}{space 3}-.7467621
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.523459{col 28}{space 2} .1283107{col 39}{space 1}   27.46{col 48}{space 3}0.000{col 56}{space 4} 3.271975{col 69}{space 3} 3.774943
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8479538{col 28}{space 2} .0719742{col 56}{space 4}-.9414765{col 69}{space 3}-.6332133
{txt}         sigma {c |}{col 16}{res}{space 2} 33.90149{col 28}{space 2} 4.349925{col 56}{space 4} 26.36335{col 69}{space 3} 43.59504
{txt}        lambda {c |}{col 16}{res}{space 2} -28.7469{col 28}{space 2} 5.922305{col 56}{space 4}-40.35441{col 69}{space 3} -17.1394
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   23.77   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODEL3, title((3))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop region1 region2 region3 region4 region5 region6 region7 region8 region9 region10 region11 region12 region13 region14 region15 region16 region17 region18 region19 region20 region21 region22 if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{txt}note: region1 omitted because of collinearity
note: region4 omitted because of collinearity
note: region6 omitted because of collinearity
note: region8 omitted because of collinearity
note: region9 omitted because of collinearity
note: region10 omitted because of collinearity
note: region11 omitted because of collinearity
note: region12 omitted because of collinearity
note: region13 omitted because of collinearity
note: region14 omitted because of collinearity
note: region16 omitted because of collinearity
note: region17 omitted because of collinearity
note: region18 omitted because of collinearity
note: region19 omitted because of collinearity
note: region20 omitted because of collinearity
note: region21 omitted because of collinearity
note: region22 omitted because of collinearity
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-438.21401}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-432.86723}  
Iteration 2:{space 3}log pseudolikelihood = {res:-431.92529}  
Iteration 3:{space 3}log pseudolikelihood = {res:-431.63995}  
Iteration 4:{space 3}log pseudolikelihood = {res:-431.63574}  
Iteration 5:{space 3}log pseudolikelihood = {res:-431.63573}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

{col 49}{help j_robustsingular##|_new:Wald chi2(9){col 68}= }{col 70}        .
{txt}Log pseudolikelihood = {res}-431.6357                {txt}Prob > chi2       =     {res}     .

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.485873{col 28}{space 2} 1.025162{col 39}{space 1}   -3.40{col 48}{space 3}0.001{col 56}{space 4}-5.495153{col 69}{space 3}-1.476592
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 6.743807{col 28}{space 2} 9.060253{col 39}{space 1}    0.74{col 48}{space 3}0.457{col 56}{space 4}-11.01396{col 69}{space 3} 24.50158
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 10.79492{col 28}{space 2} 10.66894{col 39}{space 1}    1.01{col 48}{space 3}0.312{col 56}{space 4}-10.11581{col 69}{space 3} 31.70566
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-18.12145{col 28}{space 2} 6.487334{col 39}{space 1}   -2.79{col 48}{space 3}0.005{col 56}{space 4}-30.83639{col 69}{space 3}-5.406506
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-.3872625{col 28}{space 2} 4.397073{col 39}{space 1}   -0.09{col 48}{space 3}0.930{col 56}{space 4}-9.005368{col 69}{space 3} 8.230843
{txt}{space 7}region1 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region2 {c |}{col 16}{res}{space 2}-1.458495{col 28}{space 2} 15.45777{col 39}{space 1}   -0.09{col 48}{space 3}0.925{col 56}{space 4}-31.75518{col 69}{space 3} 28.83819
{txt}{space 7}region3 {c |}{col 16}{res}{space 2} 18.73012{col 28}{space 2} 15.05238{col 39}{space 1}    1.24{col 48}{space 3}0.213{col 56}{space 4}-10.77201{col 69}{space 3} 48.23225
{txt}{space 7}region4 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region5 {c |}{col 16}{res}{space 2} 41.82528{col 28}{space 2}  20.2486{col 39}{space 1}    2.07{col 48}{space 3}0.039{col 56}{space 4} 2.138755{col 69}{space 3}  81.5118
{txt}{space 7}region6 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region7 {c |}{col 16}{res}{space 2}-5.588362{col 28}{space 2} 18.12595{col 39}{space 1}   -0.31{col 48}{space 3}0.758{col 56}{space 4}-41.11456{col 69}{space 3} 29.93784
{txt}{space 7}region8 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region9 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region10 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region11 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region12 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region13 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region14 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region15 {c |}{col 16}{res}{space 2}-2.339612{col 28}{space 2} 14.30637{col 39}{space 1}   -0.16{col 48}{space 3}0.870{col 56}{space 4}-30.37958{col 69}{space 3} 25.70035
{txt}{space 6}region16 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region17 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region18 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region19 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region20 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region21 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region22 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 9}_cons {c |}{col 16}{res}{space 2} 240.1425{col 28}{space 2} 111.5586{col 39}{space 1}    2.15{col 48}{space 3}0.031{col 56}{space 4} 21.49157{col 69}{space 3} 458.7934
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0215161{col 28}{space 2} .0044803{col 39}{space 1}    4.80{col 48}{space 3}0.000{col 56}{space 4} .0127348{col 69}{space 3} .0302973
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1487684{col 28}{space 2} .0590948{col 39}{space 1}   -2.52{col 48}{space 3}0.012{col 56}{space 4}-.2645921{col 69}{space 3}-.0329447
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0292604{col 28}{space 2} .0722752{col 39}{space 1}    0.40{col 48}{space 3}0.686{col 56}{space 4}-.1123964{col 69}{space 3} .1709172
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000225{col 28}{space 2} 4.77e-06{col 39}{space 1}    4.72{col 48}{space 3}0.000{col 56}{space 4} .0000132{col 69}{space 3} .0000318
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0053844{col 28}{space 2} .0088838{col 39}{space 1}   -0.61{col 48}{space 3}0.544{col 56}{space 4}-.0227964{col 69}{space 3} .0120275
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.018339{col 28}{space 2} .4818669{col 39}{space 1}   -2.11{col 48}{space 3}0.035{col 56}{space 4}-1.962781{col 69}{space 3}-.0738977
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.382394{col 28}{space 2} .3073584{col 39}{space 1}   -4.50{col 48}{space 3}0.000{col 56}{space 4}-1.984805{col 69}{space 3}-.7799824
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.477176{col 28}{space 2} .1518507{col 39}{space 1}   22.90{col 48}{space 3}0.000{col 56}{space 4} 3.179554{col 69}{space 3} 3.774798
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8814862{col 28}{space 2} .0685354{col 56}{space 4}-.9629382{col 69}{space 3}-.6526966
{txt}         sigma {c |}{col 16}{res}{space 2}  32.3682{col 28}{space 2} 4.915134{col 56}{space 4} 24.03604{col 69}{space 3} 43.58871
{txt}        lambda {c |}{col 16}{res}{space 2}-28.53212{col 28}{space 2} 6.400197{col 56}{space 4}-41.07627{col 69}{space 3}-15.98796
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   20.23   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODEL4, title((4))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop debtrestructured brady newmoney if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-439.49985}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-435.71614}  
Iteration 2:{space 3}log pseudolikelihood = {res:-434.71381}  
Iteration 3:{space 3}log pseudolikelihood = {res:-434.58932}  
Iteration 4:{space 3}log pseudolikelihood = {res:-434.58782}  
Iteration 5:{space 3}log pseudolikelihood = {res:-434.58782}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}8{txt})      =  {res}    67.36
{txt}Log pseudolikelihood = {res}-434.5878                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 82:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut          {txt}{c |}
{space 8}persrank {c |}{col 18}{res}{space 2}-3.371666{col 30}{space 2} .9621781{col 41}{space 1}   -3.50{col 50}{space 3}0.000{col 58}{space 4}  -5.2575{col 71}{space 3}-1.485832
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2}-2.210169{col 30}{space 2} 7.825288{col 41}{space 1}   -0.28{col 50}{space 3}0.778{col 58}{space 4}-17.54745{col 71}{space 3} 13.12711
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2}   5.6183{col 30}{space 2} 10.05863{col 41}{space 1}    0.56{col 50}{space 3}0.576{col 58}{space 4}-14.09625{col 71}{space 3} 25.33285
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2} -23.9177{col 30}{space 2} 5.391529{col 41}{space 1}   -4.44{col 50}{space 3}0.000{col 58}{space 4} -34.4849{col 71}{space 3} -13.3505
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-3.094968{col 30}{space 2} 3.350648{col 41}{space 1}   -0.92{col 50}{space 3}0.356{col 58}{space 4}-9.662119{col 71}{space 3} 3.472182
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0001545{col 30}{space 2} .0000886{col 41}{space 1}    1.74{col 50}{space 3}0.081{col 58}{space 4}-.0000191{col 71}{space 3} .0003281
{txt}{space 11}brady {c |}{col 18}{res}{space 2} 18.19979{col 30}{space 2} 5.194732{col 41}{space 1}    3.50{col 50}{space 3}0.000{col 58}{space 4} 8.018302{col 71}{space 3} 28.38128
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-9.821434{col 30}{space 2} 3.665172{col 41}{space 1}   -2.68{col 50}{space 3}0.007{col 58}{space 4}-17.00504{col 71}{space 3} -2.63783
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 321.5913{col 30}{space 2} 85.90603{col 41}{space 1}    3.74{col 50}{space 3}0.000{col 58}{space 4} 153.2185{col 71}{space 3}  489.964
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select           {txt}{c |}
{space 10}total2 {c |}{col 18}{res}{space 2} .0213291{col 30}{space 2}  .004254{col 41}{space 1}    5.01{col 50}{space 3}0.000{col 58}{space 4} .0129913{col 71}{space 3} .0296669
{txt}{space 8}logforex {c |}{col 18}{res}{space 2}-.1581497{col 30}{space 2} .0577634{col 41}{space 1}   -2.74{col 50}{space 3}0.006{col 58}{space 4}-.2713639{col 71}{space 3}-.0449355
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2} .0418379{col 30}{space 2} .0728031{col 41}{space 1}    0.57{col 50}{space 3}0.566{col 58}{space 4}-.1008536{col 71}{space 3} .1845294
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} .0000227{col 30}{space 2} 5.20e-06{col 41}{space 1}    4.36{col 50}{space 3}0.000{col 58}{space 4} .0000125{col 71}{space 3} .0000329
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.0144223{col 30}{space 2} .0115375{col 41}{space 1}   -1.25{col 50}{space 3}0.211{col 58}{space 4}-.0370354{col 71}{space 3} .0081909
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-1.014398{col 30}{space 2} .4840269{col 41}{space 1}   -2.10{col 50}{space 3}0.036{col 58}{space 4}-1.963073{col 71}{space 3}-.0657223
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}/athrho {c |}{col 18}{res}{space 2}-1.125686{col 30}{space 2} .4159507{col 41}{space 1}   -2.71{col 50}{space 3}0.007{col 58}{space 4}-1.940934{col 71}{space 3}-.3104376
{txt}{space 8}/lnsigma {c |}{col 18}{res}{space 2} 3.389082{col 30}{space 2} .2185693{col 41}{space 1}   15.51{col 50}{space 3}0.000{col 58}{space 4} 2.960694{col 71}{space 3}  3.81747
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             rho {c |}{col 18}{res}{space 2}-.8095376{col 30}{space 2} .1433569{col 58}{space 4} -.959608{col 71}{space 3}-.3008351
{txt}           sigma {c |}{col 18}{res}{space 2} 29.63872{col 30}{space 2} 6.478114{col 58}{space 4} 19.31136{col 71}{space 3} 45.48896
{txt}          lambda {c |}{col 18}{res}{space 2}-23.99366{col 30}{space 2} 9.330149{col 58}{space 4}-42.28042{col 71}{space 3}-5.706905
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    7.32   {txt}Prob > chi2 = {res}0.0068
{txt}
{com}. est store MODEL5, title((5))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop imports_gdp exports_gdp if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-439.33237}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-436.31598}  
Iteration 2:{space 3}log pseudolikelihood = {res:-435.89306}  
Iteration 3:{space 3}log pseudolikelihood = {res:-435.30873}  
Iteration 4:{space 3}log pseudolikelihood = {res:-435.27232}  
Iteration 5:{space 3}log pseudolikelihood = {res:-435.27226}  
Iteration 6:{space 3}log pseudolikelihood = {res:-435.27226}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}7{txt})      =  {res}    64.16
{txt}Log pseudolikelihood = {res}-435.2723                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.238619{col 28}{space 2} .8506456{col 39}{space 1}   -3.81{col 48}{space 3}0.000{col 56}{space 4}-4.905854{col 69}{space 3}-1.571384
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 7.012099{col 28}{space 2} 9.578094{col 39}{space 1}    0.73{col 48}{space 3}0.464{col 56}{space 4}-11.76062{col 69}{space 3} 25.78482
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 14.38375{col 28}{space 2} 10.95729{col 39}{space 1}    1.31{col 48}{space 3}0.189{col 56}{space 4}-7.092147{col 69}{space 3} 35.85964
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-16.82707{col 28}{space 2} 7.498768{col 39}{space 1}   -2.24{col 48}{space 3}0.025{col 56}{space 4}-31.52438{col 69}{space 3}-2.129751
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} 1.005908{col 28}{space 2}  4.56416{col 39}{space 1}    0.22{col 48}{space 3}0.826{col 56}{space 4}-7.939682{col 69}{space 3} 9.951498
{txt}{space 3}imports_gdp {c |}{col 16}{res}{space 2} .8416543{col 28}{space 2} .6539806{col 39}{space 1}    1.29{col 48}{space 3}0.198{col 56}{space 4} -.440124{col 69}{space 3} 2.123433
{txt}{space 3}exports_gdp {c |}{col 16}{res}{space 2}-.8038821{col 28}{space 2} .7960503{col 39}{space 1}   -1.01{col 48}{space 3}0.313{col 56}{space 4}-2.364112{col 69}{space 3} .7563478
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 212.6956{col 28}{space 2} 139.1905{col 39}{space 1}    1.53{col 48}{space 3}0.126{col 56}{space 4}-60.11275{col 69}{space 3}  485.504
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0206163{col 28}{space 2} .0049624{col 39}{space 1}    4.15{col 48}{space 3}0.000{col 56}{space 4} .0108901{col 69}{space 3} .0303425
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1547386{col 28}{space 2} .0650222{col 39}{space 1}   -2.38{col 48}{space 3}0.017{col 56}{space 4}-.2821798{col 69}{space 3}-.0272974
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}  .037498{col 28}{space 2} .0734588{col 39}{space 1}    0.51{col 48}{space 3}0.610{col 56}{space 4}-.1064786{col 69}{space 3} .1814746
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000249{col 28}{space 2} 5.22e-06{col 39}{space 1}    4.77{col 48}{space 3}0.000{col 56}{space 4} .0000147{col 69}{space 3} .0000351
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0156197{col 28}{space 2}  .011286{col 39}{space 1}   -1.38{col 48}{space 3}0.166{col 56}{space 4}-.0377399{col 69}{space 3} .0065005
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-.9976923{col 28}{space 2} .4820265{col 39}{space 1}   -2.07{col 48}{space 3}0.038{col 56}{space 4}-1.942447{col 69}{space 3}-.0529378
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.490406{col 28}{space 2} .7225642{col 39}{space 1}   -2.06{col 48}{space 3}0.039{col 56}{space 4}-2.906606{col 69}{space 3}-.0742065
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.589725{col 28}{space 2} .2827441{col 39}{space 1}   12.70{col 48}{space 3}0.000{col 56}{space 4} 3.035556{col 69}{space 3} 4.143893
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.9033995{col 28}{space 2} .1328575{col 56}{space 4}-.9940422{col 69}{space 3}-.0740705
{txt}         sigma {c |}{col 16}{res}{space 2}  36.2241{col 28}{space 2} 10.24215{col 56}{space 4} 20.81255{col 69}{space 3} 63.04779
{txt}        lambda {c |}{col 16}{res}{space 2}-32.72483{col 28}{space 2} 13.91049{col 56}{space 4}-59.98889{col 69}{space 3}-5.460777
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    4.25   {txt}Prob > chi2 = {res}0.0391
{txt}
{com}. est store MODEL6, title((6))
{txt}
{com}. estout MODEL1 MODEL2 MODEL3 MODEL4 MODEL5 MODEL6, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "table4.tex", replace style(tex)
{res}{txt}(note: file table4.tex not found)
(output written to {browse  `"table4.tex"'})

{com}. 
. //FIGURES
. graph set window fontface "garamond"
{txt}
{com}. 
. *Figure 1
. qui reg haircut persrank rightgov leftgov loggdppc logpop, cluster(ccode)
{txt}
{com}. histogram haircut if e(sample), bin(7) percent fcolor(navy) lcolor(white) lpattern(blank) barwidth(12) gap(20)
{txt}(bin={res}7{txt}, start={res}-8.3000002{txt}, width={res}14.828571{txt})
{res}{txt}
{com}. 
. *Figure 2
. qui heckman haircut persrank rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode) //Model 2
{txt}
{com}. est store MODEL2, title((2))
{txt}
{com}. margins if haircut!=. & democratic==1, at(persrank=(1(1)10)) atmean pred(ycond)
{res}
{txt}Adjusted predictions{col 49}Number of obs{col 67}= {res}        53
{txt}Model VCE{col 14}: {res}Robust

{txt}{p2colset 1 14 16 2}{...}
{p2col:Expression}:{space 1}{res:E(haircut|Zg>0), predict(ycond)}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:1._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}1}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:2._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}2}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:3._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}3}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:4._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}4}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:5._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}5}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:6._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}6}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:7._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}7}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:8._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}8}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:9._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 10}9}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:10._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 9}10}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.3962264 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.4150943 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.493186 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.82921 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}16.01643 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.721634 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}659.9427 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.942757 {txt:(mean)}}{p_end}
{p2colreset}{...}

{res}{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26} Delta-method
{col 14}{c |}     Margin{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}_at {c |}
{space 10}1  {c |}{col 14}{res}{space 2} 49.75501{col 26}{space 2} 5.541975{col 37}{space 1}    8.98{col 46}{space 3}0.000{col 54}{space 4} 38.89294{col 67}{space 3} 60.61708
{txt}{space 10}2  {c |}{col 14}{res}{space 2} 46.19606{col 26}{space 2} 4.799172{col 37}{space 1}    9.63{col 46}{space 3}0.000{col 54}{space 4} 36.78985{col 67}{space 3} 55.60226
{txt}{space 10}3  {c |}{col 14}{res}{space 2} 42.63711{col 26}{space 2} 4.152591{col 37}{space 1}   10.27{col 46}{space 3}0.000{col 54}{space 4} 34.49818{col 67}{space 3} 50.77603
{txt}{space 10}4  {c |}{col 14}{res}{space 2} 39.07815{col 26}{space 2} 3.653678{col 37}{space 1}   10.70{col 46}{space 3}0.000{col 54}{space 4} 31.91707{col 67}{space 3} 46.23923
{txt}{space 10}5  {c |}{col 14}{res}{space 2}  35.5192{col 26}{space 2} 3.368696{col 37}{space 1}   10.54{col 46}{space 3}0.000{col 54}{space 4} 28.91668{col 67}{space 3} 42.12172
{txt}{space 10}6  {c |}{col 14}{res}{space 2} 31.96025{col 26}{space 2}  3.35265{col 37}{space 1}    9.53{col 46}{space 3}0.000{col 54}{space 4} 25.38917{col 67}{space 3} 38.53132
{txt}{space 10}7  {c |}{col 14}{res}{space 2} 28.40129{col 26}{space 2} 3.609128{col 37}{space 1}    7.87{col 46}{space 3}0.000{col 54}{space 4} 21.32753{col 67}{space 3} 35.47506
{txt}{space 10}8  {c |}{col 14}{res}{space 2} 24.84234{col 26}{space 2} 4.087144{col 37}{space 1}    6.08{col 46}{space 3}0.000{col 54}{space 4} 16.83169{col 67}{space 3}   32.853
{txt}{space 10}9  {c |}{col 14}{res}{space 2} 21.28339{col 26}{space 2}  4.71986{col 37}{space 1}    4.51{col 46}{space 3}0.000{col 54}{space 4} 12.03263{col 67}{space 3} 30.53415
{txt}{space 9}10  {c |}{col 14}{res}{space 2} 17.72444{col 26}{space 2} 5.453697{col 37}{space 1}    3.25{col 46}{space 3}0.001{col 54}{space 4} 7.035386{col 67}{space 3} 28.41349
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. marginsplot, xsize(10) ysize(9) addplot(hist persrank if haircut!=. & democratic==1, yaxis(2) xscale(range(1(1)10)) xlabel(1(1)10) yscale(range(0(10)60)) ylabel() yscale(axis(2) range(0 .75) off) lc(white%0) fcolor(gs10%25) recast(rbar)) recast(line) recastci(rarea) ciopts(fc(emidblue%30) lc(white%0)) xtitle(Personal Vote Index) title("") ytitle(Predicted Sovereign Debt Haircut (%)) legend(off) graphregion(fcolor(white) lcolor(white))
{res}
{text}{p 2 6 2}Variables that uniquely identify margins: persrank{p_end}
{res}{txt}
{com}. 
. *Figure 3a
. qui heckman haircut c.persrank##c.risk_ds1 rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode) //Model A62
{txt}
{com}. margins if haircut!=. & polity>5 & polity<11, dydx(c.persrank) at(c.risk_ds1=(0(1)10)) atmean pred(ycond)
{res}
{txt}Conditional marginal effects{col 49}Number of obs{col 67}= {res}        42
{txt}Model VCE{col 14}: {res}Robust

{txt}{p2colset 1 14 16 2}{...}
{p2col:Expression}:{space 1}{res:E(haircut|Zg>0), predict(ycond)}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col:dy/dx w.r.t.}:{space 1}{res:persrank}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:1._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:2._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}1}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:3._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}2}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:4._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}3}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:5._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}4}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:6._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}5}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:7._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}6}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:8._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}7}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:9._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}8}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:10._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 10}9}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:11._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.595238 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_ds1}{space 8}{txt:=} {space 9}10}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4285714 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3809524 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.411099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}15.97275 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 4}12.3358 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.891893 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1120.985 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466483 {txt:(mean)}}{p_end}
{p2colreset}{...}

{res}{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26} Delta-method
{col 14}{c |}      dy/dx{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}persrank     {txt}{c |}
{space 9}_at {c |}
{space 10}1  {c |}{col 14}{res}{space 2}-7.821108{col 26}{space 2} 2.070819{col 37}{space 1}   -3.78{col 46}{space 3}0.000{col 54}{space 4}-11.87984{col 67}{space 3}-3.762378
{txt}{space 10}2  {c |}{col 14}{res}{space 2}-6.494433{col 26}{space 2} 1.607863{col 37}{space 1}   -4.04{col 46}{space 3}0.000{col 54}{space 4}-9.645786{col 67}{space 3} -3.34308
{txt}{space 10}3  {c |}{col 14}{res}{space 2}-5.167758{col 26}{space 2} 1.176784{col 37}{space 1}   -4.39{col 46}{space 3}0.000{col 54}{space 4}-7.474213{col 67}{space 3}-2.861303
{txt}{space 10}4  {c |}{col 14}{res}{space 2}-3.841083{col 26}{space 2} .8289069{col 37}{space 1}   -4.63{col 46}{space 3}0.000{col 54}{space 4} -5.46571{col 67}{space 3}-2.216455
{txt}{space 10}5  {c |}{col 14}{res}{space 2}-2.514407{col 26}{space 2} .7014403{col 37}{space 1}   -3.58{col 46}{space 3}0.000{col 54}{space 4}-3.889205{col 67}{space 3} -1.13961
{txt}{space 10}6  {c |}{col 14}{res}{space 2}-1.187732{col 26}{space 2} .8942129{col 37}{space 1}   -1.33{col 46}{space 3}0.184{col 54}{space 4}-2.940357{col 67}{space 3}  .564893
{txt}{space 10}7  {c |}{col 14}{res}{space 2} .1389431{col 26}{space 2} 1.268811{col 37}{space 1}    0.11{col 46}{space 3}0.913{col 54}{space 4}-2.347881{col 67}{space 3} 2.625767
{txt}{space 10}8  {c |}{col 14}{res}{space 2} 1.465618{col 26}{space 2} 1.709624{col 37}{space 1}    0.86{col 46}{space 3}0.391{col 54}{space 4}-1.885182{col 67}{space 3} 4.816419
{txt}{space 10}9  {c |}{col 14}{res}{space 2} 2.792294{col 26}{space 2} 2.176789{col 37}{space 1}    1.28{col 46}{space 3}0.200{col 54}{space 4}-1.474134{col 67}{space 3} 7.058722
{txt}{space 9}10  {c |}{col 14}{res}{space 2} 4.118969{col 26}{space 2}  2.65644{col 37}{space 1}    1.55{col 46}{space 3}0.121{col 54}{space 4}-1.087558{col 67}{space 3} 9.325496
{txt}{space 9}11  {c |}{col 14}{res}{space 2} 5.445644{col 26}{space 2} 3.142866{col 37}{space 1}    1.73{col 46}{space 3}0.083{col 54}{space 4}-.7142596{col 67}{space 3} 11.60555
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. marginsplot, xsize(10) ysize(9) addplot(hist risk_ds1 if haircut!=. & democratic==1, yaxis(2) xscale(range(0(1)10)) xlabel(0(1)10) yscale(range(-10(1)12)) ylabel(-10(2)12, nogrid) yscale(axis(2) range(0 .5) off) lc(white%0) fcolor(gs10%25) recast(rbar)) recast(line) recastci(rarea) ciopts(fc(emidblue%30) lc(white%0)) xtitle(Debt Service Risk) title("") ytitle(Marginal Effect of Personal Vote Index) legend(off) graphregion(fcolor(white) lcolor(white)) yline(0)
{res}
{text}{p 2 6 2}Variables that uniquely identify margins: risk_ds1{p_end}
{res}{txt}
{com}. 
. *Figure 3b
. qui heckman haircut c.persrank##c.risk_inflation1 rightgov leftgov loggdppc logpop  if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode) //MODEL A65
{txt}
{com}. margins if haircut!=. & polity>5 & polity<11, dydx(c.persrank) at(c.risk_inflation1=(0(1)10)) atmean pred(ycond)
{res}
{txt}Conditional marginal effects{col 49}Number of obs{col 67}= {res}        44
{txt}Model VCE{col 14}: {res}Robust

{txt}{p2colset 1 14 16 2}{...}
{p2col:Expression}:{space 1}{res:E(haircut|Zg>0), predict(ycond)}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col:dy/dx w.r.t.}:{space 1}{res:persrank}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:1._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:2._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}1}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:3._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}2}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:4._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}3}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:5._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}4}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:6._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}5}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:7._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}6}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
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{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:8._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}7}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:9._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}8}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:10._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 10}9}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:11._at}:{space 1}{res:{txt:persrank}{space 8}{txt:=} {space 3}3.704545 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:risk_infla~1}{space 4}{txt:=} {space 9}10}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 3}.4318182 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 3}.3636364 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.445285 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 4}15.9205 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.98536 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.881448 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}1065.833 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}3.466412 {txt:(mean)}}{p_end}
{p2colreset}{...}

{res}{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26} Delta-method
{col 14}{c |}      dy/dx{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}persrank     {txt}{c |}
{space 9}_at {c |}
{space 10}1  {c |}{col 14}{res}{space 2} -6.46423{col 26}{space 2} 2.109425{col 37}{space 1}   -3.06{col 46}{space 3}0.002{col 54}{space 4}-10.59863{col 67}{space 3}-2.329834
{txt}{space 10}2  {c |}{col 14}{res}{space 2}-5.758707{col 26}{space 2} 1.746549{col 37}{space 1}   -3.30{col 46}{space 3}0.001{col 54}{space 4} -9.18188{col 67}{space 3}-2.335533
{txt}{space 10}3  {c |}{col 14}{res}{space 2}-5.053183{col 26}{space 2}  1.41099{col 37}{space 1}   -3.58{col 46}{space 3}0.000{col 54}{space 4}-7.818673{col 67}{space 3}-2.287693
{txt}{space 10}4  {c |}{col 14}{res}{space 2}-4.347659{col 26}{space 2} 1.127409{col 37}{space 1}   -3.86{col 46}{space 3}0.000{col 54}{space 4} -6.55734{col 67}{space 3}-2.137979
{txt}{space 10}5  {c |}{col 14}{res}{space 2}-3.642136{col 26}{space 2}  .943878{col 37}{space 1}   -3.86{col 46}{space 3}0.000{col 54}{space 4}-5.492102{col 67}{space 3}-1.792169
{txt}{space 10}6  {c |}{col 14}{res}{space 2}-2.936612{col 26}{space 2} .9222035{col 37}{space 1}   -3.18{col 46}{space 3}0.001{col 54}{space 4}-4.744097{col 67}{space 3}-1.129126
{txt}{space 10}7  {c |}{col 14}{res}{space 2}-2.231088{col 26}{space 2} 1.072246{col 37}{space 1}   -2.08{col 46}{space 3}0.037{col 54}{space 4}-4.332651{col 67}{space 3}-.1295251
{txt}{space 10}8  {c |}{col 14}{res}{space 2}-1.525564{col 26}{space 2} 1.337408{col 37}{space 1}   -1.14{col 46}{space 3}0.254{col 54}{space 4}-4.146836{col 67}{space 3} 1.095708
{txt}{space 10}9  {c |}{col 14}{res}{space 2}-.8200408{col 26}{space 2} 1.663523{col 37}{space 1}   -0.49{col 46}{space 3}0.622{col 54}{space 4}-4.080486{col 67}{space 3} 2.440404
{txt}{space 9}10  {c |}{col 14}{res}{space 2}-.1145171{col 26}{space 2}   2.0213{col 37}{space 1}   -0.06{col 46}{space 3}0.955{col 54}{space 4}-4.076193{col 67}{space 3} 3.847159
{txt}{space 9}11  {c |}{col 14}{res}{space 2} .5910066{col 26}{space 2} 2.396602{col 37}{space 1}    0.25{col 46}{space 3}0.805{col 54}{space 4}-4.106246{col 67}{space 3} 5.288259
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. marginsplot, xsize(10) ysize(9) addplot(hist risk_inflation1 if haircut!=. & democratic==1, yaxis(2) xscale(range(0(1)10)) xlabel(0(1)10) yscale(range(-10(1)6)) ylabel(-10(2)6, nogrid) yscale(axis(2) range(0 .5) off) lc(white%0) fcolor(gs10%25) recast(rbar)) recast(line) recastci(rarea) ciopts(fc(emidblue%30) lc(white%0)) xtitle(Inflation Risk) title("") ytitle(Marginal Effect of Personal Vote Index) legend(off) graphregion(fcolor(white) lcolor(white)) yline(0)
{res}
{text}{p 2 6 2}Variables that uniquely identify margins: risk_inflation1{p_end}
{res}{txt}
{com}. 
. *Figure 4
. qui heckman haircut democracy_cc democracy_pc autocracy rightgov leftgov loggdppc logpop imports_gdp exports_gdp debtrest brady newmoney inflation gdpgrowth logforex currentaccount, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode) //Model A69
{txt}
{com}. margins if e(sample), at(democracy_cc==1 democracy_pc==0 autocracy==0) at(democracy_cc==0 democracy_pc==1 autocracy==0) at(democracy_cc==0 democracy_pc==0 autocracy==1) atmean pred(ycond)
{res}
{txt}Adjusted predictions{col 49}Number of obs{col 67}= {res}       125
{txt}Model VCE{col 14}: {res}Robust

{txt}{p2colset 1 14 16 2}{...}
{p2col:Expression}:{space 1}{res:E(haircut|Zg>0), predict(ycond)}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:1._at}:{space 1}{res:{txt:democracy_cc}{space 4}{txt:=} {space 10}1}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:democracy_pc}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:autocracy}{space 7}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 7}.248 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 7}.352 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.028701 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}16.37678 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:imports_gdp}{space 5}{txt:=} {space 3}31.55283 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:exports_gdp}{space 5}{txt:=} {space 3}30.05755 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:debtrestru~d}{space 4}{txt:=} {space 3}7492.959 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:brady}{space 11}{txt:=} {space 8}.12 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:newmoney}{space 8}{txt:=} {space 7}.152 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:inflation}{space 7}{txt:=} {space 3}57.99868 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.504376 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.462099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}313.6181 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.57896 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:2._at}:{space 1}{res:{txt:democracy_cc}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:democracy_pc}{space 4}{txt:=} {space 10}1}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:autocracy}{space 7}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 7}.248 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 7}.352 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.028701 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}16.37678 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:imports_gdp}{space 5}{txt:=} {space 3}31.55283 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:exports_gdp}{space 5}{txt:=} {space 3}30.05755 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:debtrestru~d}{space 4}{txt:=} {space 3}7492.959 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:brady}{space 11}{txt:=} {space 8}.12 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:newmoney}{space 8}{txt:=} {space 7}.152 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:inflation}{space 7}{txt:=} {space 3}57.99868 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.504376 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.462099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}313.6181 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.57896 {txt:(mean)}}{p_end}
{p2colreset}{...}

{txt}{p2colset 1 14 16 2}{...}
{p2col:3._at}:{space 1}{res:{txt:democracy_cc}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:democracy_pc}{space 4}{txt:=} {space 10}0}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:autocracy}{space 7}{txt:=} {space 10}1}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:rightgov}{space 8}{txt:=} {space 7}.248 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:leftgov}{space 9}{txt:=} {space 7}.352 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:loggdppc}{space 8}{txt:=} {space 3}7.028701 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logpop}{space 10}{txt:=} {space 3}16.37678 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:imports_gdp}{space 5}{txt:=} {space 3}31.55283 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:exports_gdp}{space 5}{txt:=} {space 3}30.05755 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:debtrestru~d}{space 4}{txt:=} {space 3}7492.959 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:brady}{space 11}{txt:=} {space 8}.12 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:newmoney}{space 8}{txt:=} {space 7}.152 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:inflation}{space 7}{txt:=} {space 3}57.99868 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:gdpgrowth}{space 7}{txt:=} {space 3}2.504376 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:logforex}{space 8}{txt:=} {space 3}6.462099 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:currentacc~t}{space 4}{txt:=} {space 3}313.6181 {txt:(mean)}}{p_end}
{p2colreset}{...}
{txt}{p2colset 1 14 16 2}{...}
{p2col: }{space 2}{res:{txt:total2}{space 10}{txt:=} {space 3}11.57896 {txt:(mean)}}{p_end}
{p2colreset}{...}

{res}{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26} Delta-method
{col 14}{c |}     Margin{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}_at {c |}
{space 10}1  {c |}{col 14}{res}{space 2}  20.6326{col 26}{space 2}  6.59202{col 37}{space 1}    3.13{col 46}{space 3}0.002{col 54}{space 4}  7.71248{col 67}{space 3} 33.55272
{txt}{space 10}2  {c |}{col 14}{res}{space 2} 40.78052{col 26}{space 2} 6.449357{col 37}{space 1}    6.32{col 46}{space 3}0.000{col 54}{space 4} 28.14001{col 67}{space 3} 53.42103
{txt}{space 10}3  {c |}{col 14}{res}{space 2} 40.36366{col 26}{space 2}  3.43986{col 37}{space 1}   11.73{col 46}{space 3}0.000{col 54}{space 4} 33.62166{col 67}{space 3} 47.10566
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. marginsplot, xsize(10) ysize(9) xtitle() title("") recast(scatter) recastci(rspike) ytitle(Predicted Sovereign Debt Haircut (%)) legend(off) graphregion(fcolor(white) lcolor(white)) level(90)
{res}
{text}{p 2 6 2}Variables that uniquely identify margins: _atopt{p_end}
{text}  Multiple at() options specified:
{text}{p 6 10 2}_atoption=1: (mean) _factor (mean) _continuous democracy_cc==1 democracy_pc==0 autocracy==0{p_end}
{text}{p 6 10 2}_atoption=2: (mean) _factor (mean) _continuous democracy_cc==0 democracy_pc==1 autocracy==0{p_end}
{text}{p 6 10 2}_atoption=3: (mean) _factor (mean) _continuous democracy_cc==0 democracy_pc==0 autocracy==1{p_end}
{res}{txt}
{com}. 
. //Appendix A
. 
. *Table A1 - Second Stage Summary Statistics
. qui reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1, vce(cluster ccode)
{txt}
{com}. sutex haircut persrank rightgov leftgov loggdppc logpop pr debtrestructured brady newmoney imports_gdp exports_gdp effectparties mdmh pluralty checks govfrac cg gdpgrowth inflation xr currentaccount kaopen logforex ln_unemp_tot budgetbalance_prs world_g_i vxo risk_ds1 risk_inflation1 if e(sample), nobs minmax digits(2)
%------- Begin LaTeX code -------%

\begin{table}[htbp]\centering \caption{Summary statistics \label{sumstat}}
\begin{tabular}{l c c c c c}\hline\hline
\multicolumn{1}{c}{\textbf{Variable}} & \textbf{Mean}
 & \textbf{Std. Dev.}& \textbf{Min.} &  \textbf{Max.} & \textbf{N}\\ \hline
haircut & 37.53 & 28.83 & -8.30 & 95.5 & 53\\
persrank & 3.98 & 3.8 & 1 & 10 & 53\\
rightgov & 0.4 & 0.49 & 0 & 1 & 53\\
leftgov & 0.42 & 0.5 & 0 & 1 & 53\\
loggdppc & 7.49 & 0.79 & 6.02 & 10.01 & 53\\
logpop & 15.83 & 1.31 & 13.53 & 18.89 & 53\\
pr & 0.81 & 0.39 & 0 & 1 & 53\\
debtrestructured & 11488.16 & 37083.52 & 13 & 261410 & 53\\
brady & 0.17 & 0.38 & 0 & 1 & 53\\
newmoney & 0.17 & 0.38 & 0 & 1 & 53\\
imports\_gdp & 39.44 & 27.39 & 6.27 & 152.81 & 53\\
exports\_gdp & 36.98 & 22.23 & 6.91 & 127.56 & 53\\
effectparties & 1.62 & 1 & 1 & 6.11 & 52\\
mdmh & 21.37 & 35.47 & 1 & 113 & 46\\
pluralty & 0.45 & 0.5 & 0 & 1 & 53\\
checks & 3.45 & 1.28 & 1 & 6 & 53\\
govfrac & 0.23 & 0.3 & 0 & 0.85 & 52\\
cg & 81.68 & 77.23 & 17.48 & 435.42 & 46\\
gdpgrowth & 2.94 & 4.03 & -8.63 & 10 & 53\\
inflation & 97.59 & 320.82 & 1.26 & 2075.89 & 52\\
xr & 48.18 & 246.32 & 0 & 1744.35 & 51\\
currentaccount & 659.94 & 6914.76 & -8624.5 & 46839.32 & 53\\
kaopen & -0.45 & 1.34 & -1.9 & 2.37 & 53\\
logforex & 6.72 & 1.69 & 3.1 & 10.52 & 53\\
ln\_unemp\_tot & 12.67 & 1.37 & 10.33 & 15.83 & 39\\
budgetbalance\_prs & -2.38 & 4.19 & -16.2 & 4.9 & 30\\
world\_g\_i & 6.63 & 2.41 & 1.9 & 12.37 & 51\\
vxo & 19.9 & 5.48 & 12.11 & 31.26 & 41\\
risk\_ds1 & 3.58 & 2.16 & 0.5 & 10 & 42\\
risk\_inflation1 & 5.36 & 2.55 & 0 & 10 & 44\\
\hline
\end{tabular}
\end{table}
%------- End LaTeX code -------%
{txt}
{com}. 
. *Table A2 - First Stage Summary Statistics
. qui probit debtentry total2 logforex loggdppc currentaccount gdpgrowth if democratic==1, cluster(ccode)
{txt}
{com}. sutex debtentry total2 logforex loggdppc currentaccount gdpgrowth if e(sample), nobs minmax digits(2)
%------- Begin LaTeX code -------%

\begin{table}[htbp]\centering \caption{Summary statistics \label{sumstat}}
\begin{tabular}{l c c c c c}\hline\hline
\multicolumn{1}{c}{\textbf{Variable}} & \textbf{Mean}
 & \textbf{Std. Dev.}& \textbf{Min.} &  \textbf{Max.} & \textbf{N}\\ \hline
debtentry & 0.05 & 0.21 & 0 & 1 & 1416\\
total2 & 2.15 & 12.73 & 0 & 312.42 & 1416\\
logforex & 7.48 & 1.96 & 1.01 & 12.77 & 1416\\
loggdppc & 7.66 & 1.18 & 4.79 & 11.02 & 1416\\
currentaccount & -1611.79 & 7893.37 & -75092 & 92315.57 & 1416\\
gdpgrowth & 3.78 & 4.15 & -22.93 & 19.45 & 1416\\
\hline
\end{tabular}
\end{table}
%------- End LaTeX code -------%
{txt}
{com}. 
. *Table A3 - Correlation Matrix
. qui reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1, vce(cluster ccode)
{txt}
{com}. pwcorr haircut persrank pr rightgov leftgov loggdppc logpop debtrestructured brady newmoney imports_gdp exports_gdp if e(sample)

             {txt}{c |}  haircut persrank       pr rightgov  leftgov loggdppc   logpop
{hline 13}{c +}{hline 63}
     haircut {c |} {res}  1.0000 
    {txt}persrank {c |} {res} -0.3422   1.0000 
          {txt}pr {c |} {res}  0.1796  -0.7080   1.0000 
    {txt}rightgov {c |} {res} -0.0979   0.1375  -0.0037   1.0000 
     {txt}leftgov {c |} {res}  0.2940  -0.1588  -0.0831  -0.6824   1.0000 
    {txt}loggdppc {c |} {res} -0.2993  -0.1845   0.1865  -0.2084   0.0065   1.0000 
      {txt}logpop {c |} {res} -0.1271   0.0489   0.3516  -0.0748  -0.2801   0.1812   1.0000 
{txt}debtrestru~d {c |} {res}  0.1353  -0.0738   0.1391  -0.1896   0.1640   0.5599   0.2518 
       {txt}brady {c |} {res}  0.0727  -0.1581   0.2181   0.0446  -0.0750   0.2672   0.1936 
    {txt}newmoney {c |} {res} -0.2110  -0.1314  -0.0388  -0.0582  -0.1770   0.1811   0.1646 
 {txt}imports_gdp {c |} {res}  0.2755   0.1274  -0.1282   0.0120   0.2111  -0.4370  -0.5596 
 {txt}exports_gdp {c |} {res}  0.1618   0.2476  -0.1789   0.0390   0.1679  -0.3969  -0.5003 

             {txt}{c |} debtre~d    brady newmoney import~p export~p
{hline 13}{c +}{hline 45}
debtrestru~d {c |} {res}  1.0000 
       {txt}brady {c |} {res}  0.0321   1.0000 
    {txt}newmoney {c |} {res} -0.0239   0.1970   1.0000 
 {txt}imports_gdp {c |} {res} -0.1666  -0.1617  -0.3100   1.0000 
 {txt}exports_gdp {c |} {res} -0.1661  -0.1525  -0.2663   0.9438   1.0000 
{txt}
{com}. 
. *Table A4
. reg haircut persrank if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}F(1, 23)          =  {res}     4.92
                                                {txt}Prob > F          = {res}    0.0367
                                                {txt}R-squared         = {res}    0.1171
                                                {txt}Root MSE          =    {res} 27.349

{txt}{ralign 78:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.599461{col 26}{space 2} 1.171914{col 37}{space 1}   -2.22{col 46}{space 3}0.037{col 54}{space 4}-5.023751{col 67}{space 3}-.1751722
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 47.88125{col 26}{space 2} 8.482761{col 37}{space 1}    5.64{col 46}{space 3}0.000{col 54}{space 4} 30.33332{col 67}{space 3} 65.42918
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA1, title((A1))
{txt}
{com}. reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}F(5, 23)          =  {res}     2.60
                                                {txt}Prob > F          = {res}    0.0524
                                                {txt}R-squared         = {res}    0.3132
                                                {txt}Root MSE          =    {res} 25.128

{txt}{ralign 78:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.841327{col 26}{space 2} 1.168509{col 37}{space 1}   -2.43{col 46}{space 3}0.023{col 54}{space 4}-5.258573{col 67}{space 3}-.4240813
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 5.982679{col 26}{space 2} 12.31916{col 37}{space 1}    0.49{col 46}{space 3}0.632{col 54}{space 4}-19.50144{col 67}{space 3}  31.4668
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 18.65703{col 26}{space 2} 14.69181{col 37}{space 1}    1.27{col 46}{space 3}0.217{col 54}{space 4} -11.7353{col 67}{space 3} 49.04936
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-13.15136{col 26}{space 2} 7.077985{col 37}{space 1}   -1.86{col 46}{space 3}0.076{col 54}{space 4}-27.79329{col 67}{space 3} 1.490564
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} 1.190669{col 26}{space 2} 3.939598{col 37}{space 1}    0.30{col 46}{space 3}0.765{col 54}{space 4}-6.959011{col 67}{space 3} 9.340349
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 118.4275{col 26}{space 2} 90.69784{col 37}{space 1}    1.31{col 46}{space 3}0.205{col 54}{space 4}-69.19529{col 67}{space 3} 306.0503
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA2, title((A2))
{txt}
{com}. reg haircut persrank pr rightgov leftgov loggdppc logpop if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}F(6, 23)          =  {res}     2.25
                                                {txt}Prob > F          = {res}    0.0742
                                                {txt}R-squared         = {res}    0.3135
                                                {txt}Root MSE          =    {res} 25.393

{txt}{ralign 78:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-3.014206{col 26}{space 2} 2.035318{col 37}{space 1}   -1.48{col 46}{space 3}0.152{col 54}{space 4}-7.224582{col 67}{space 3}  1.19617
{txt}{space 10}pr {c |}{col 14}{res}{space 2}  -2.2306{col 26}{space 2} 16.53612{col 37}{space 1}   -0.13{col 46}{space 3}0.894{col 54}{space 4}-36.43817{col 67}{space 3} 31.97697
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 6.206937{col 26}{space 2}  12.5745{col 37}{space 1}    0.49{col 46}{space 3}0.626{col 54}{space 4} -19.8054{col 67}{space 3} 32.21928
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 18.64847{col 26}{space 2} 14.90693{col 37}{space 1}    1.25{col 46}{space 3}0.224{col 54}{space 4}-12.18887{col 67}{space 3} 49.48581
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-13.14723{col 26}{space 2} 7.128831{col 37}{space 1}   -1.84{col 46}{space 3}0.078{col 54}{space 4}-27.89434{col 67}{space 3} 1.599875
{txt}{space 6}logpop {c |}{col 14}{res}{space 2}  1.45699{col 26}{space 2} 4.375969{col 37}{space 1}    0.33{col 46}{space 3}0.742{col 54}{space 4}-7.595392{col 67}{space 3} 10.50937
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 116.5936{col 26}{space 2}  93.1758{col 37}{space 1}    1.25{col 46}{space 3}0.223{col 54}{space 4}-76.15523{col 67}{space 3} 309.3424
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA3, title((A3))
{txt}
{com}. reg haircut persrank rightgov leftgov loggdppc logpop region1 region2 region3 region4 region5 region6 region7 region8 region9 region10 region11 region12 region13 region14 region15 region16 region17 region18 region19 region20 region21 region22 if democratic==1, vce(cluster ccode)
{txt}note: region1 omitted because of collinearity
note: region4 omitted because of collinearity
note: region5 omitted because of collinearity
note: region6 omitted because of collinearity
note: region8 omitted because of collinearity
note: region9 omitted because of collinearity
note: region10 omitted because of collinearity
note: region11 omitted because of collinearity
note: region12 omitted because of collinearity
note: region13 omitted because of collinearity
note: region14 omitted because of collinearity
note: region16 omitted because of collinearity
note: region17 omitted because of collinearity
note: region18 omitted because of collinearity
note: region20 omitted because of collinearity
note: region21 omitted because of collinearity
note: region22 omitted because of collinearity

Linear regression                               Number of obs     = {res}        53
                                                {txt}{help j_robustsingular:F(9, 23) }         =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.4447
                                                {txt}Root MSE          =    {res} 23.902

{txt}{ralign 78:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.793951{col 26}{space 2} 1.531115{col 37}{space 1}   -1.82{col 46}{space 3}0.081{col 54}{space 4}-5.961302{col 67}{space 3} .3734009
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 7.573016{col 26}{space 2} 12.49325{col 37}{space 1}    0.61{col 46}{space 3}0.550{col 54}{space 4}-18.27124{col 67}{space 3} 33.41727
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 15.17973{col 26}{space 2} 15.10314{col 37}{space 1}    1.01{col 46}{space 3}0.325{col 54}{space 4} -16.0635{col 67}{space 3} 46.42296
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-16.57598{col 26}{space 2} 7.909447{col 37}{space 1}   -2.10{col 46}{space 3}0.047{col 54}{space 4}-32.93792{col 67}{space 3}-.2140463
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} 4.120253{col 26}{space 2} 5.016652{col 37}{space 1}    0.82{col 46}{space 3}0.420{col 54}{space 4}-6.257482{col 67}{space 3} 14.49799
{txt}{space 5}region1 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 5}region2 {c |}{col 14}{res}{space 2}-39.77759{col 26}{space 2} 11.89266{col 37}{space 1}   -3.34{col 46}{space 3}0.003{col 54}{space 4}-64.37944{col 67}{space 3}-15.17575
{txt}{space 5}region3 {c |}{col 14}{res}{space 2}-20.45286{col 26}{space 2} 20.15654{col 37}{space 1}   -1.01{col 46}{space 3}0.321{col 54}{space 4}-62.14984{col 67}{space 3} 21.24413
{txt}{space 5}region4 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 5}region5 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 5}region6 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 5}region7 {c |}{col 14}{res}{space 2}-51.29233{col 26}{space 2} 20.18252{col 37}{space 1}   -2.54{col 46}{space 3}0.018{col 54}{space 4}-93.04306{col 67}{space 3}  -9.5416
{txt}{space 5}region8 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 5}region9 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region10 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region11 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region12 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region13 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region14 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region15 {c |}{col 14}{res}{space 2}-41.49094{col 26}{space 2} 24.57104{col 37}{space 1}   -1.69{col 46}{space 3}0.105{col 54}{space 4}-92.32001{col 67}{space 3} 9.338121
{txt}{space 4}region16 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region17 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region18 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region19 {c |}{col 14}{res}{space 2}-13.19457{col 26}{space 2} 42.41457{col 37}{space 1}   -0.31{col 46}{space 3}0.759{col 54}{space 4}-100.9358{col 67}{space 3} 74.54665
{txt}{space 4}region20 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region21 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 4}region22 {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} 135.5968{col 26}{space 2} 108.9246{col 37}{space 1}    1.24{col 46}{space 3}0.226{col 54}{space 4}-89.73095{col 67}{space 3} 360.9245
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA4, title((A4))
{txt}
{com}. reg haircut persrank rightgov leftgov loggdppc logpop debtrestructured brady newmoney if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}F(8, 23)          =  {res}    10.59
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.4856
                                                {txt}Root MSE          =    {res} 22.474

{txt}{ralign 82:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}persrank {c |}{col 18}{res}{space 2}-2.933939{col 30}{space 2} 1.099974{col 41}{space 1}   -2.67{col 50}{space 3}0.014{col 58}{space 4}-5.209407{col 71}{space 3}-.6584699
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2}-4.464717{col 30}{space 2} 10.51873{col 41}{space 1}   -0.42{col 50}{space 3}0.675{col 58}{space 4}-26.22436{col 71}{space 3} 17.29493
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} 3.849779{col 30}{space 2} 12.79715{col 41}{space 1}    0.30{col 50}{space 3}0.766{col 58}{space 4}-22.62315{col 71}{space 3}  30.3227
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-24.40452{col 30}{space 2} 6.361039{col 41}{space 1}   -3.84{col 50}{space 3}0.001{col 58}{space 4}-37.56333{col 71}{space 3}-11.24571
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-2.516494{col 30}{space 2} 3.841364{col 41}{space 1}   -0.66{col 50}{space 3}0.519{col 58}{space 4}-10.46296{col 71}{space 3} 5.429973
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0003668{col 30}{space 2} .0000737{col 41}{space 1}    4.98{col 50}{space 3}0.000{col 58}{space 4} .0002144{col 71}{space 3} .0005193
{txt}{space 11}brady {c |}{col 18}{res}{space 2} 17.82771{col 30}{space 2} 6.317577{col 41}{space 1}    2.82{col 50}{space 3}0.010{col 58}{space 4} 4.758807{col 71}{space 3} 30.89661
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-11.40311{col 30}{space 2} 3.745409{col 41}{space 1}   -3.04{col 50}{space 3}0.006{col 58}{space 4}-19.15108{col 71}{space 3}-3.655138
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 266.7803{col 30}{space 2} 90.83808{col 41}{space 1}    2.94{col 50}{space 3}0.007{col 58}{space 4} 78.86746{col 71}{space 3} 454.6932
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA5, title((A5))
{txt}
{com}. reg haircut persrank rightgov leftgov loggdppc logpop imports_gdp exports_gdp if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}F(7, 23)          =  {res}     2.47
                                                {txt}Prob > F          = {res}    0.0482
                                                {txt}R-squared         = {res}    0.3616
                                                {txt}Root MSE          =    {res} 24.758

{txt}{ralign 78:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.572174{col 26}{space 2} 1.062378{col 37}{space 1}   -2.42{col 46}{space 3}0.024{col 54}{space 4} -4.76987{col 67}{space 3}-.3744785
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 8.152145{col 26}{space 2} 11.77235{col 37}{space 1}    0.69{col 46}{space 3}0.496{col 54}{space 4}-16.20082{col 67}{space 3} 32.50511
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2}  18.7567{col 26}{space 2} 13.14982{col 37}{space 1}    1.43{col 46}{space 3}0.167{col 54}{space 4}-8.445785{col 67}{space 3} 45.95918
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-9.394714{col 26}{space 2} 7.499889{col 37}{space 1}   -1.25{col 46}{space 3}0.223{col 54}{space 4}-24.90942{col 67}{space 3} 6.119989
{txt}{space 6}logpop {c |}{col 14}{res}{space 2}  4.04838{col 26}{space 2} 4.521623{col 37}{space 1}    0.90{col 46}{space 3}0.380{col 54}{space 4} -5.30531{col 67}{space 3} 13.40207
{txt}{space 1}imports_gdp {c |}{col 14}{res}{space 2} .7060735{col 26}{space 2} .5237419{col 37}{space 1}    1.35{col 46}{space 3}0.191{col 54}{space 4}-.3773692{col 67}{space 3} 1.789516
{txt}{space 1}exports_gdp {c |}{col 14}{res}{space 2}-.5926916{col 26}{space 2} .6548317{col 37}{space 1}   -0.91{col 46}{space 3}0.375{col 54}{space 4}-1.947314{col 67}{space 3} .7619309
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 37.13672{col 26}{space 2} 107.6149{col 37}{space 1}    0.35{col 46}{space 3}0.733{col 54}{space 4}-185.4816{col 67}{space 3}  259.755
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA6, title((A6))
{txt}
{com}. estout MODELA1 MODELA2 MODELA3 MODELA4 MODELA5 MODELA6, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(N N_g r2, fmt(0 0 3) label(Observations Countries R$^2$)) label,  using "tablea4.tex", replace style(tex)
{res}{txt}(note: file tablea4.tex not found)
(output written to {browse  `"tablea4.tex"'})

{com}. 
. *Table A5
. heckman haircut persrank rightgov leftgov loggdppc logpop effectparties if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-432.78022}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-430.86285}  
Iteration 2:{space 3}log pseudolikelihood = {res:-430.34167}  
Iteration 3:{space 3}log pseudolikelihood = {res:-430.32442}  
Iteration 4:{space 3}log pseudolikelihood = {res:-430.32442}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,401
{txt}(regression model with sample selection)              Selected    = {res}        52
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    39.84
{txt}Log pseudolikelihood = {res}-430.3244                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.264765{col 28}{space 2} 1.065234{col 39}{space 1}   -3.06{col 48}{space 3}0.002{col 56}{space 4}-5.352585{col 69}{space 3}-1.176945
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.079194{col 28}{space 2} 9.780781{col 39}{space 1}    0.52{col 48}{space 3}0.604{col 56}{space 4}-14.09078{col 69}{space 3} 24.24917
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 10.44416{col 28}{space 2} 10.59863{col 39}{space 1}    0.99{col 48}{space 3}0.324{col 56}{space 4}-10.32878{col 69}{space 3}  31.2171
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-19.00466{col 28}{space 2} 5.776033{col 39}{space 1}   -3.29{col 48}{space 3}0.001{col 56}{space 4}-30.32548{col 69}{space 3}-7.683845
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-.4553052{col 28}{space 2}  4.35199{col 39}{space 1}   -0.10{col 48}{space 3}0.917{col 56}{space 4} -8.98505{col 69}{space 3} 8.074439
{txt}{space 1}effectparties {c |}{col 16}{res}{space 2}-3.321171{col 28}{space 2} 3.291025{col 39}{space 1}   -1.01{col 48}{space 3}0.313{col 56}{space 4}-9.771462{col 69}{space 3}  3.12912
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 250.9009{col 28}{space 2} 108.9135{col 39}{space 1}    2.30{col 48}{space 3}0.021{col 56}{space 4} 37.43428{col 69}{space 3} 464.3674
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0209783{col 28}{space 2} .0038036{col 39}{space 1}    5.52{col 48}{space 3}0.000{col 56}{space 4} .0135234{col 69}{space 3} .0284331
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1461406{col 28}{space 2} .0574639{col 39}{space 1}   -2.54{col 48}{space 3}0.011{col 56}{space 4}-.2587677{col 69}{space 3}-.0335134
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0324568{col 28}{space 2}  .071659{col 39}{space 1}    0.45{col 48}{space 3}0.651{col 56}{space 4}-.1079924{col 69}{space 3} .1729059
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000217{col 28}{space 2} 4.73e-06{col 39}{space 1}    4.58{col 48}{space 3}0.000{col 56}{space 4} .0000124{col 69}{space 3} .0000309
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} -.014376{col 28}{space 2} .0111446{col 39}{space 1}   -1.29{col 48}{space 3}0.197{col 56}{space 4}-.0362191{col 69}{space 3} .0074672
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.034486{col 28}{space 2} .4919787{col 39}{space 1}   -2.10{col 48}{space 3}0.035{col 56}{space 4}-1.998747{col 69}{space 3}-.0702259
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.171641{col 28}{space 2} .2785902{col 39}{space 1}   -4.21{col 48}{space 3}0.000{col 56}{space 4}-1.717668{col 69}{space 3} -.625614
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.473175{col 28}{space 2} .1533233{col 39}{space 1}   22.65{col 48}{space 3}0.000{col 56}{space 4} 3.172667{col 69}{space 3} 3.773683
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8247975{col 28}{space 2} .0890678{col 56}{space 4}-.9375816{col 69}{space 3}-.5550247
{txt}         sigma {c |}{col 16}{res}{space 2} 32.23893{col 28}{space 2}  4.94298{col 56}{space 4} 23.87106{col 69}{space 3} 43.54013
{txt}        lambda {c |}{col 16}{res}{space 2}-26.59059{col 28}{space 2} 6.777065{col 56}{space 4}-39.87339{col 69}{space 3}-13.30779
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   17.69   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA7, title((A7))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop mdmh if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-380.96602}  
Iteration 1:{space 3}log pseudolikelihood = {res:-380.22002}  
Iteration 2:{space 3}log pseudolikelihood = {res:-380.20686}  
Iteration 3:{space 3}log pseudolikelihood = {res:-380.20682}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,395
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    53.48
{txt}Log pseudolikelihood = {res}-380.2068                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.460909{col 28}{space 2} .9071979{col 39}{space 1}   -3.81{col 48}{space 3}0.000{col 56}{space 4}-5.238984{col 69}{space 3}-1.682834
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 13.29103{col 28}{space 2} 7.223686{col 39}{space 1}    1.84{col 48}{space 3}0.066{col 56}{space 4}-.8671369{col 69}{space 3} 27.44919
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 32.52638{col 28}{space 2} 7.473452{col 39}{space 1}    4.35{col 48}{space 3}0.000{col 56}{space 4} 17.87868{col 69}{space 3} 47.17408
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-21.74311{col 28}{space 2} 5.837603{col 39}{space 1}   -3.72{col 48}{space 3}0.000{col 56}{space 4} -33.1846{col 69}{space 3}-10.30161
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}  4.82194{col 28}{space 2} 3.587082{col 39}{space 1}    1.34{col 48}{space 3}0.179{col 56}{space 4}-2.208611{col 69}{space 3} 11.85249
{txt}{space 10}mdmh {c |}{col 16}{res}{space 2}-.2201831{col 28}{space 2} .1347116{col 39}{space 1}   -1.63{col 48}{space 3}0.102{col 56}{space 4} -.484213{col 69}{space 3} .0438468
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 177.4275{col 28}{space 2} 103.3757{col 39}{space 1}    1.72{col 48}{space 3}0.086{col 56}{space 4}-25.18508{col 69}{space 3} 380.0401
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0197644{col 28}{space 2} .0037486{col 39}{space 1}    5.27{col 48}{space 3}0.000{col 56}{space 4} .0124172{col 69}{space 3} .0271116
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1432203{col 28}{space 2} .0675168{col 39}{space 1}   -2.12{col 48}{space 3}0.034{col 56}{space 4}-.2755508{col 69}{space 3}-.0108898
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}  .018707{col 28}{space 2} .0799299{col 39}{space 1}    0.23{col 48}{space 3}0.815{col 56}{space 4}-.1379527{col 69}{space 3} .1753668
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000248{col 28}{space 2} 4.37e-06{col 39}{space 1}    5.68{col 48}{space 3}0.000{col 56}{space 4} .0000163{col 69}{space 3} .0000334
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0105801{col 28}{space 2} .0111212{col 39}{space 1}   -0.95{col 48}{space 3}0.341{col 56}{space 4}-.0323773{col 69}{space 3}  .011217
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.015362{col 28}{space 2} .5136619{col 39}{space 1}   -1.98{col 48}{space 3}0.048{col 56}{space 4}-2.022121{col 69}{space 3}-.0086028
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.294482{col 28}{space 2}  .562288{col 39}{space 1}   -2.30{col 48}{space 3}0.021{col 56}{space 4}-2.396546{col 69}{space 3}-.1924177
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.423406{col 28}{space 2} .2421575{col 39}{space 1}   14.14{col 48}{space 3}0.000{col 56}{space 4} 2.948786{col 69}{space 3} 3.898026
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8602959{col 28}{space 2} .1461336{col 56}{space 4}-.9835626{col 69}{space 3}-.1900776
{txt}         sigma {c |}{col 16}{res}{space 2}  30.6737{col 28}{space 2} 7.427866{col 56}{space 4} 19.08277{col 69}{space 3} 49.30501
{txt}        lambda {c |}{col 16}{res}{space 2}-26.38846{col 28}{space 2} 10.69515{col 56}{space 4}-47.35057{col 69}{space 3}-5.426346
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    5.30   {txt}Prob > chi2 = {res}0.0213
{txt}
{com}. est store MODELA8, title((A8))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop pluralty if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-435.16539}  
Iteration 1:{space 3}log pseudolikelihood = {res:-434.44598}  
Iteration 2:{space 3}log pseudolikelihood = {res:-434.27917}  
Iteration 3:{space 3}log pseudolikelihood = {res:-434.27627}  
Iteration 4:{space 3}log pseudolikelihood = {res:-434.27627}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}   155.18
{txt}Log pseudolikelihood = {res}-434.2763                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-5.821311{col 28}{space 2} .7677141{col 39}{space 1}   -7.58{col 48}{space 3}0.000{col 56}{space 4}-7.326003{col 69}{space 3}-4.316619
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 7.813813{col 28}{space 2} 8.739936{col 39}{space 1}    0.89{col 48}{space 3}0.371{col 56}{space 4}-9.316147{col 69}{space 3} 24.94377
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 21.47281{col 28}{space 2} 10.97032{col 39}{space 1}    1.96{col 48}{space 3}0.050{col 56}{space 4}-.0286164{col 69}{space 3} 42.97423
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-17.33185{col 28}{space 2} 5.381396{col 39}{space 1}   -3.22{col 48}{space 3}0.001{col 56}{space 4}-27.87919{col 69}{space 3}-6.784508
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.203912{col 28}{space 2} 3.594254{col 39}{space 1}   -0.33{col 48}{space 3}0.738{col 56}{space 4} -8.24852{col 69}{space 3} 5.840696
{txt}{space 6}pluralty {c |}{col 16}{res}{space 2} 25.10556{col 28}{space 2} 6.363957{col 39}{space 1}    3.94{col 48}{space 3}0.000{col 56}{space 4} 12.63243{col 69}{space 3} 37.57868
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 236.6581{col 28}{space 2} 95.93034{col 39}{space 1}    2.47{col 48}{space 3}0.014{col 56}{space 4} 48.63812{col 69}{space 3} 424.6781
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0216594{col 28}{space 2} .0042589{col 39}{space 1}    5.09{col 48}{space 3}0.000{col 56}{space 4} .0133122{col 69}{space 3} .0300066
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1517162{col 28}{space 2}  .056814{col 39}{space 1}   -2.67{col 48}{space 3}0.008{col 56}{space 4}-.2630696{col 69}{space 3}-.0403629
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0366566{col 28}{space 2} .0710033{col 39}{space 1}    0.52{col 48}{space 3}0.606{col 56}{space 4}-.1025072{col 69}{space 3} .1758205
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000229{col 28}{space 2} 4.94e-06{col 39}{space 1}    4.62{col 48}{space 3}0.000{col 56}{space 4} .0000132{col 69}{space 3} .0000325
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0136455{col 28}{space 2} .0117429{col 39}{space 1}   -1.16{col 48}{space 3}0.245{col 56}{space 4}-.0366611{col 69}{space 3} .0093701
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.023364{col 28}{space 2} .4839498{col 39}{space 1}   -2.11{col 48}{space 3}0.034{col 56}{space 4}-1.971888{col 69}{space 3}-.0748399
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.205151{col 28}{space 2}  .335344{col 39}{space 1}   -3.59{col 48}{space 3}0.000{col 56}{space 4}-1.862413{col 69}{space 3}-.5478886
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.425929{col 28}{space 2} .1790968{col 39}{space 1}   19.13{col 48}{space 3}0.000{col 56}{space 4} 3.074906{col 69}{space 3} 3.776953
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8352189{col 28}{space 2} .1014111{col 56}{space 4}-.9529013{col 69}{space 3}-.4989361
{txt}         sigma {c |}{col 16}{res}{space 2} 30.75121{col 28}{space 2} 5.507445{col 56}{space 4} 21.64785{col 69}{space 3} 43.68272
{txt}        lambda {c |}{col 16}{res}{space 2}-25.68399{col 28}{space 2} 7.521364{col 56}{space 4}-40.42559{col 69}{space 3}-10.94239
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   12.92   {txt}Prob > chi2 = {res}0.0003
{txt}
{com}. est store MODELA9, title((A9))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop govfrac checks if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-433.52873}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-431.14071}  
Iteration 2:{space 3}log pseudolikelihood = {res: -430.6578}  
Iteration 3:{space 3}log pseudolikelihood = {res:-430.59192}  
Iteration 4:{space 3}log pseudolikelihood = {res:-430.59161}  
Iteration 5:{space 3}log pseudolikelihood = {res:-430.59161}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,401
{txt}(regression model with sample selection)              Selected    = {res}        52
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}7{txt})      =  {res}    32.92
{txt}Log pseudolikelihood = {res}-430.5916                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.395475{col 28}{space 2} 1.024136{col 39}{space 1}   -3.32{col 48}{space 3}0.001{col 56}{space 4}-5.402745{col 69}{space 3}-1.388206
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 4.817473{col 28}{space 2} 10.32873{col 39}{space 1}    0.47{col 48}{space 3}0.641{col 56}{space 4}-15.42647{col 69}{space 3} 25.06141
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 10.47382{col 28}{space 2} 10.57124{col 39}{space 1}    0.99{col 48}{space 3}0.322{col 56}{space 4}-10.24543{col 69}{space 3} 31.19307
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-18.84241{col 28}{space 2} 6.788198{col 39}{space 1}   -2.78{col 48}{space 3}0.006{col 56}{space 4}-32.14703{col 69}{space 3}-5.537783
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.052751{col 28}{space 2} 4.637018{col 39}{space 1}   -0.23{col 48}{space 3}0.820{col 56}{space 4}-10.14114{col 69}{space 3} 8.035638
{txt}{space 7}govfrac {c |}{col 16}{res}{space 2}-6.814986{col 28}{space 2} 12.37286{col 39}{space 1}   -0.55{col 48}{space 3}0.582{col 56}{space 4}-31.06535{col 69}{space 3} 17.43538
{txt}{space 8}checks {c |}{col 16}{res}{space 2} .0223496{col 28}{space 2} 2.781111{col 39}{space 1}    0.01{col 48}{space 3}0.994{col 56}{space 4}-5.428528{col 69}{space 3} 5.473227
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 256.6841{col 28}{space 2} 122.0033{col 39}{space 1}    2.10{col 48}{space 3}0.035{col 56}{space 4} 17.56212{col 69}{space 3} 495.8061
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0210529{col 28}{space 2} .0038828{col 39}{space 1}    5.42{col 48}{space 3}0.000{col 56}{space 4} .0134428{col 69}{space 3}  .028663
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1463855{col 28}{space 2}   .05738{col 39}{space 1}   -2.55{col 48}{space 3}0.011{col 56}{space 4}-.2588482{col 69}{space 3}-.0339228
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0327513{col 28}{space 2} .0716424{col 39}{space 1}    0.46{col 48}{space 3}0.648{col 56}{space 4}-.1076651{col 69}{space 3} .1731678
{txt}currentaccount {c |}{col 16}{res}{space 2}  .000022{col 28}{space 2} 4.68e-06{col 39}{space 1}    4.71{col 48}{space 3}0.000{col 56}{space 4} .0000129{col 69}{space 3} .0000312
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0140686{col 28}{space 2} .0112861{col 39}{space 1}   -1.25{col 48}{space 3}0.213{col 56}{space 4} -.036189{col 69}{space 3} .0080517
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.036651{col 28}{space 2} .4916779{col 39}{space 1}   -2.11{col 48}{space 3}0.035{col 56}{space 4}-2.000322{col 69}{space 3}-.0729803
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.181598{col 28}{space 2}  .302656{col 39}{space 1}   -3.90{col 48}{space 3}0.000{col 56}{space 4}-1.774793{col 69}{space 3}-.5884035
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.485586{col 28}{space 2}   .17884{col 39}{space 1}   19.49{col 48}{space 3}0.000{col 56}{space 4} 3.135066{col 69}{space 3} 3.836106
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8279549{col 28}{space 2} .0951825{col 56}{space 4}-.9441324{col 69}{space 3}-.5287464
{txt}         sigma {c |}{col 16}{res}{space 2} 32.64154{col 28}{space 2} 5.837615{col 56}{space 4} 22.99015{col 69}{space 3} 46.34465
{txt}        lambda {c |}{col 16}{res}{space 2}-27.02573{col 28}{space 2} 7.792534{col 56}{space 4}-42.29881{col 69}{space 3}-11.75264
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   15.24   {txt}Prob > chi2 = {res}0.0001
{txt}
{com}. est store MODELA10, title((A10))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop effectparties mdmh pluralty checks govfrac if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res: -370.0345}  
Iteration 1:{space 3}log pseudolikelihood = {res:-369.91045}  
Iteration 2:{space 3}log pseudolikelihood = {res:-369.91016}  
Iteration 3:{space 3}log pseudolikelihood = {res:-369.91016}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,394
{txt}(regression model with sample selection)              Selected    = {res}        45
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}10{txt})     =  {res}   181.77
{txt}Log pseudolikelihood = {res}-369.9102                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-4.697031{col 28}{space 2} .9504715{col 39}{space 1}   -4.94{col 48}{space 3}0.000{col 56}{space 4}-6.559921{col 69}{space 3}-2.834142
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 16.01899{col 28}{space 2}  6.44107{col 39}{space 1}    2.49{col 48}{space 3}0.013{col 56}{space 4} 3.394723{col 69}{space 3} 28.64325
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 32.85634{col 28}{space 2} 7.541785{col 39}{space 1}    4.36{col 48}{space 3}0.000{col 56}{space 4} 18.07471{col 69}{space 3} 47.63796
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-12.03676{col 28}{space 2} 7.760438{col 39}{space 1}   -1.55{col 48}{space 3}0.121{col 56}{space 4}-27.24694{col 69}{space 3} 3.173415
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} 6.861394{col 28}{space 2}  3.58257{col 39}{space 1}    1.92{col 48}{space 3}0.055{col 56}{space 4}-.1603135{col 69}{space 3}  13.8831
{txt}{space 1}effectparties {c |}{col 16}{res}{space 2}-3.083985{col 28}{space 2} 6.784415{col 39}{space 1}   -0.45{col 48}{space 3}0.649{col 56}{space 4}-16.38119{col 69}{space 3} 10.21322
{txt}{space 10}mdmh {c |}{col 16}{res}{space 2}-.0591897{col 28}{space 2} .1744594{col 39}{space 1}   -0.34{col 48}{space 3}0.734{col 56}{space 4}-.4011238{col 69}{space 3} .2827444
{txt}{space 6}pluralty {c |}{col 16}{res}{space 2} 18.45759{col 28}{space 2} 6.804123{col 39}{space 1}    2.71{col 48}{space 3}0.007{col 56}{space 4} 5.121751{col 69}{space 3} 31.79342
{txt}{space 8}checks {c |}{col 16}{res}{space 2}-4.401229{col 28}{space 2} 2.951107{col 39}{space 1}   -1.49{col 48}{space 3}0.136{col 56}{space 4}-10.18529{col 69}{space 3} 1.382835
{txt}{space 7}govfrac {c |}{col 16}{res}{space 2}-2.819074{col 28}{space 2} 20.00664{col 39}{space 1}   -0.14{col 48}{space 3}0.888{col 56}{space 4}-42.03137{col 69}{space 3} 36.39322
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 55.18825{col 28}{space 2} 105.1363{col 39}{space 1}    0.52{col 48}{space 3}0.600{col 56}{space 4}-150.8751{col 69}{space 3} 261.2516
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0199843{col 28}{space 2} .0031931{col 39}{space 1}    6.26{col 48}{space 3}0.000{col 56}{space 4} .0137259{col 69}{space 3} .0262427
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1526504{col 28}{space 2} .0673502{col 39}{space 1}   -2.27{col 48}{space 3}0.023{col 56}{space 4}-.2846544{col 69}{space 3}-.0206465
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0373507{col 28}{space 2} .0800366{col 39}{space 1}    0.47{col 48}{space 3}0.641{col 56}{space 4}-.1195183{col 69}{space 3} .1942196
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000229{col 28}{space 2} 4.89e-06{col 39}{space 1}    4.69{col 48}{space 3}0.000{col 56}{space 4} .0000134{col 69}{space 3} .0000325
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0167555{col 28}{space 2} .0125103{col 39}{space 1}   -1.34{col 48}{space 3}0.180{col 56}{space 4}-.0412751{col 69}{space 3} .0077642
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.079617{col 28}{space 2} .5223431{col 39}{space 1}   -2.07{col 48}{space 3}0.039{col 56}{space 4}-2.103391{col 69}{space 3}-.0558431
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-.6333096{col 28}{space 2} .5376425{col 39}{space 1}   -1.18{col 48}{space 3}0.239{col 56}{space 4} -1.68707{col 69}{space 3} .4204505
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.016299{col 28}{space 2} .2570681{col 39}{space 1}   11.73{col 48}{space 3}0.000{col 56}{space 4} 2.512454{col 69}{space 3} 3.520143
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.5603269{col 28}{space 2} .3688409{col 56}{space 4}-.9337729{col 69}{space 3} .3973099
{txt}         sigma {c |}{col 16}{res}{space 2} 20.41558{col 28}{space 2} 5.248195{col 56}{space 4} 12.33517{col 69}{space 3} 33.78925
{txt}        lambda {c |}{col 16}{res}{space 2} -11.4394{col 28}{space 2} 10.28798{col 56}{space 4}-31.60347{col 69}{space 3} 8.724667
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    1.39   {txt}Prob > chi2 = {res}0.2388
{txt}
{com}. est store MODELA11, title((A11))
{txt}
{com}. estout MODELA7 MODELA8 MODELA9 MODELA10 MODELA11, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea5.tex", replace style(tex)
{res}{txt}(note: file tablea5.tex not found)
(output written to {browse  `"tablea5.tex"'})

{com}. 
. *Table A6
. heckman haircut persrank rightgov leftgov loggdppc logpop cg if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-386.70338}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-384.00152}  
Iteration 2:{space 3}log pseudolikelihood = {res:-383.23206}  
Iteration 3:{space 3}log pseudolikelihood = {res:-383.08313}  
Iteration 4:{space 3}log pseudolikelihood = {res:-383.07986}  
Iteration 5:{space 3}log pseudolikelihood = {res:-383.07986}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,395
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    94.98
{txt}Log pseudolikelihood = {res}-383.0799                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.782949{col 28}{space 2} .8108167{col 39}{space 1}   -4.67{col 48}{space 3}0.000{col 56}{space 4} -5.37212{col 69}{space 3}-2.193777
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} .9019523{col 28}{space 2} 9.994128{col 39}{space 1}    0.09{col 48}{space 3}0.928{col 56}{space 4}-18.68618{col 69}{space 3} 20.49008
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 8.562999{col 28}{space 2} 12.40254{col 39}{space 1}    0.69{col 48}{space 3}0.490{col 56}{space 4}-15.74553{col 69}{space 3} 32.87152
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-19.77446{col 28}{space 2} 6.979387{col 39}{space 1}   -2.83{col 48}{space 3}0.005{col 56}{space 4}-33.45381{col 69}{space 3}-6.095111
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.367346{col 28}{space 2} 4.297586{col 39}{space 1}   -0.32{col 48}{space 3}0.750{col 56}{space 4} -9.79046{col 69}{space 3} 7.055768
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0294972{col 28}{space 2} .0431702{col 39}{space 1}    0.68{col 48}{space 3}0.494{col 56}{space 4}-.0551149{col 69}{space 3} .1141093
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 272.3788{col 28}{space 2} 117.9038{col 39}{space 1}    2.31{col 48}{space 3}0.021{col 56}{space 4} 41.29172{col 69}{space 3}  503.466
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0206711{col 28}{space 2}  .003543{col 39}{space 1}    5.83{col 48}{space 3}0.000{col 56}{space 4}  .013727{col 69}{space 3} .0276153
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1356262{col 28}{space 2} .0572154{col 39}{space 1}   -2.37{col 48}{space 3}0.018{col 56}{space 4}-.2477663{col 69}{space 3}-.0234862
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0115287{col 28}{space 2} .0737982{col 39}{space 1}    0.16{col 48}{space 3}0.876{col 56}{space 4}-.1331132{col 69}{space 3} .1561706
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000214{col 28}{space 2} 4.56e-06{col 39}{space 1}    4.70{col 48}{space 3}0.000{col 56}{space 4} .0000125{col 69}{space 3} .0000304
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0145025{col 28}{space 2}  .011758{col 39}{space 1}   -1.23{col 48}{space 3}0.217{col 56}{space 4}-.0375477{col 69}{space 3} .0085427
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.006152{col 28}{space 2}  .498104{col 39}{space 1}   -2.02{col 48}{space 3}0.043{col 56}{space 4}-1.982418{col 69}{space 3}-.0298856
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.243092{col 28}{space 2} .2875086{col 39}{space 1}   -4.32{col 48}{space 3}0.000{col 56}{space 4}-1.806599{col 69}{space 3}-.6795856
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.470023{col 28}{space 2} .1692986{col 39}{space 1}   20.50{col 48}{space 3}0.000{col 56}{space 4} 3.138204{col 69}{space 3} 3.801842
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8463352{col 28}{space 2}  .081571{col 56}{space 4}-.9474851{col 69}{space 3}  -.59125
{txt}         sigma {c |}{col 16}{res}{space 2} 32.13749{col 28}{space 2} 5.440831{col 56}{space 4} 23.06241{col 69}{space 3} 44.78362
{txt}        lambda {c |}{col 16}{res}{space 2}-27.19909{col 28}{space 2} 6.963391{col 56}{space 4}-40.84708{col 69}{space 3}-13.55109
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   18.69   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA12, title((A12))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop gdpgrowth if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-441.89383}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-438.83936}  
Iteration 2:{space 3}log pseudolikelihood = {res:-437.88165}  
Iteration 3:{space 3}log pseudolikelihood = {res:-437.81026}  
Iteration 4:{space 3}log pseudolikelihood = {res:-437.80997}  
Iteration 5:{space 3}log pseudolikelihood = {res:-437.80997}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    32.48
{txt}Log pseudolikelihood = {res}  -437.81                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.493683{col 28}{space 2}  .938187{col 39}{space 1}   -3.72{col 48}{space 3}0.000{col 56}{space 4}-5.332496{col 69}{space 3}-1.654871
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 3.963117{col 28}{space 2} 10.00617{col 39}{space 1}    0.40{col 48}{space 3}0.692{col 56}{space 4}-15.64862{col 69}{space 3} 23.57485
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 12.19573{col 28}{space 2} 11.73861{col 39}{space 1}    1.04{col 48}{space 3}0.299{col 56}{space 4}-10.81153{col 69}{space 3} 35.20298
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-19.90513{col 28}{space 2} 5.801552{col 39}{space 1}   -3.43{col 48}{space 3}0.001{col 56}{space 4}-31.27596{col 69}{space 3}-8.534298
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.638256{col 28}{space 2} 3.741245{col 39}{space 1}   -0.44{col 48}{space 3}0.661{col 56}{space 4} -8.97096{col 69}{space 3} 5.694449
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} .2649119{col 28}{space 2} .9055486{col 39}{space 1}    0.29{col 48}{space 3}0.770{col 56}{space 4}-1.509931{col 69}{space 3} 2.039755
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 275.1987{col 28}{space 2} 96.11115{col 39}{space 1}    2.86{col 48}{space 3}0.004{col 56}{space 4} 86.82431{col 69}{space 3} 463.5731
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0212303{col 28}{space 2}  .003983{col 39}{space 1}    5.33{col 48}{space 3}0.000{col 56}{space 4} .0134239{col 69}{space 3} .0290368
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1526279{col 28}{space 2} .0550393{col 39}{space 1}   -2.77{col 48}{space 3}0.006{col 56}{space 4}-.2605029{col 69}{space 3}-.0447529
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0329614{col 28}{space 2} .0700974{col 39}{space 1}    0.47{col 48}{space 3}0.638{col 56}{space 4}-.1044269{col 69}{space 3} .1703498
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000215{col 28}{space 2} 4.71e-06{col 39}{space 1}    4.57{col 48}{space 3}0.000{col 56}{space 4} .0000123{col 69}{space 3} .0000308
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0142497{col 28}{space 2} .0121444{col 39}{space 1}   -1.17{col 48}{space 3}0.241{col 56}{space 4}-.0380523{col 69}{space 3} .0095529
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-.9878492{col 28}{space 2} .4885403{col 39}{space 1}   -2.02{col 48}{space 3}0.043{col 56}{space 4}-1.945371{col 69}{space 3}-.0303278
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.245391{col 28}{space 2} .2374213{col 39}{space 1}   -5.25{col 48}{space 3}0.000{col 56}{space 4}-1.710729{col 69}{space 3}-.7800543
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.522671{col 28}{space 2} .1225195{col 39}{space 1}   28.75{col 48}{space 3}0.000{col 56}{space 4} 3.282537{col 69}{space 3} 3.762805
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8469863{col 28}{space 2} .0670986{col 56}{space 4}-.9367369{col 69}{space 3}-.6527379
{txt}         sigma {c |}{col 16}{res}{space 2} 33.87479{col 28}{space 2}  4.15032{col 56}{space 4} 26.64329{col 69}{space 3} 43.06905
{txt}        lambda {c |}{col 16}{res}{space 2}-28.69148{col 28}{space 2} 5.567948{col 56}{space 4}-39.60446{col 69}{space 3} -17.7785
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   27.52   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA13, title((A13))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop inflation if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-433.52501}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-431.15672}  
Iteration 2:{space 3}log pseudolikelihood = {res:-430.71486}  
Iteration 3:{space 3}log pseudolikelihood = {res: -430.6574}  
Iteration 4:{space 3}log pseudolikelihood = {res:-430.65717}  
Iteration 5:{space 3}log pseudolikelihood = {res:-430.65717}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,401
{txt}(regression model with sample selection)              Selected    = {res}        52
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    27.50
{txt}Log pseudolikelihood = {res}-430.6572                {txt}Prob > chi2       =     {res}0.0001

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.517511{col 28}{space 2} 1.004474{col 39}{space 1}   -3.50{col 48}{space 3}0.000{col 56}{space 4}-5.486244{col 69}{space 3}-1.548779
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.715545{col 28}{space 2} 11.41805{col 39}{space 1}    0.50{col 48}{space 3}0.617{col 56}{space 4}-16.66343{col 69}{space 3} 28.09452
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 13.34361{col 28}{space 2} 12.51001{col 39}{space 1}    1.07{col 48}{space 3}0.286{col 56}{space 4}-11.17556{col 69}{space 3} 37.86278
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}  -19.283{col 28}{space 2} 6.438946{col 39}{space 1}   -2.99{col 48}{space 3}0.003{col 56}{space 4} -31.9031{col 69}{space 3}  -6.6629
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.465351{col 28}{space 2} 4.099708{col 39}{space 1}   -0.36{col 48}{space 3}0.721{col 56}{space 4}-9.500631{col 69}{space 3} 6.569929
{txt}{space 5}inflation {c |}{col 16}{res}{space 2} .0031107{col 28}{space 2} .0075265{col 39}{space 1}    0.41{col 48}{space 3}0.679{col 56}{space 4} -.011641{col 69}{space 3} .0178623
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 264.9455{col 28}{space 2} 108.4541{col 39}{space 1}    2.44{col 48}{space 3}0.015{col 56}{space 4} 52.37935{col 69}{space 3} 477.5116
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0212557{col 28}{space 2} .0039682{col 39}{space 1}    5.36{col 48}{space 3}0.000{col 56}{space 4} .0134782{col 69}{space 3} .0290332
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}   -.1545{col 28}{space 2} .0565906{col 39}{space 1}   -2.73{col 48}{space 3}0.006{col 56}{space 4}-.2654156{col 69}{space 3}-.0435843
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0454183{col 28}{space 2} .0700679{col 39}{space 1}    0.65{col 48}{space 3}0.517{col 56}{space 4}-.0919123{col 69}{space 3} .1827489
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000224{col 28}{space 2} 5.06e-06{col 39}{space 1}    4.42{col 48}{space 3}0.000{col 56}{space 4} .0000125{col 69}{space 3} .0000323
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0145267{col 28}{space 2} .0113314{col 39}{space 1}   -1.28{col 48}{space 3}0.200{col 56}{space 4}-.0367358{col 69}{space 3} .0076824
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.076728{col 28}{space 2}  .484612{col 39}{space 1}   -2.22{col 48}{space 3}0.026{col 56}{space 4} -2.02655{col 69}{space 3}-.1269062
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.189302{col 28}{space 2} .2467761{col 39}{space 1}   -4.82{col 48}{space 3}0.000{col 56}{space 4}-1.672974{col 69}{space 3}  -.70563
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.501716{col 28}{space 2} .1385622{col 39}{space 1}   25.27{col 48}{space 3}0.000{col 56}{space 4} 3.230139{col 69}{space 3} 3.773293
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8303623{col 28}{space 2} .0766236{col 56}{space 4}-.9319439{col 69}{space 3}-.6079292
{txt}         sigma {c |}{col 16}{res}{space 2} 33.17233{col 28}{space 2} 4.596431{col 56}{space 4} 25.28318{col 69}{space 3} 43.52315
{txt}        lambda {c |}{col 16}{res}{space 2}-27.54506{col 28}{space 2} 6.173248{col 56}{space 4} -39.6444{col 69}{space 3}-15.44571
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   23.23   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA14, title((A14))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop ln_unemp_tot if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res: -336.8687}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-332.62881}  
Iteration 2:{space 3}log pseudolikelihood = {res:-331.87677}  
Iteration 3:{space 3}log pseudolikelihood = {res:-331.80259}  
Iteration 4:{space 3}log pseudolikelihood = {res:  -331.802}  
Iteration 5:{space 3}log pseudolikelihood = {res:  -331.802}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,388
{txt}(regression model with sample selection)              Selected    = {res}        39
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    12.45
{txt}Log pseudolikelihood = {res} -331.802                {txt}Prob > chi2       =     {res}0.0526

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2} -2.87981{col 28}{space 2} 1.373979{col 39}{space 1}   -2.10{col 48}{space 3}0.036{col 56}{space 4}-5.572758{col 69}{space 3}-.1868613
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-2.306164{col 28}{space 2} 10.30997{col 39}{space 1}   -0.22{col 48}{space 3}0.823{col 56}{space 4}-22.51333{col 69}{space 3} 17.90101
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 5.110237{col 28}{space 2} 10.61583{col 39}{space 1}    0.48{col 48}{space 3}0.630{col 56}{space 4} -15.6964{col 69}{space 3} 25.91688
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-17.67152{col 28}{space 2} 7.964143{col 39}{space 1}   -2.22{col 48}{space 3}0.026{col 56}{space 4}-33.28096{col 69}{space 3}-2.062089
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} -2.09552{col 28}{space 2} 6.239286{col 39}{space 1}   -0.34{col 48}{space 3}0.737{col 56}{space 4} -14.3243{col 69}{space 3} 10.13326
{txt}{space 2}ln_unemp_tot {c |}{col 16}{res}{space 2}-1.924977{col 28}{space 2} 5.738089{col 39}{space 1}   -0.34{col 48}{space 3}0.737{col 56}{space 4}-13.17143{col 69}{space 3} 9.321472
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 298.2025{col 28}{space 2} 117.9667{col 39}{space 1}    2.53{col 48}{space 3}0.011{col 56}{space 4} 66.99197{col 69}{space 3}  529.413
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0198293{col 28}{space 2} .0042911{col 39}{space 1}    4.62{col 48}{space 3}0.000{col 56}{space 4} .0114189{col 69}{space 3} .0282398
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1064986{col 28}{space 2} .0450252{col 39}{space 1}   -2.37{col 48}{space 3}0.018{col 56}{space 4}-.1947464{col 69}{space 3}-.0182508
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}  .048871{col 28}{space 2}  .072823{col 39}{space 1}    0.67{col 48}{space 3}0.502{col 56}{space 4}-.0938594{col 69}{space 3} .1916015
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000191{col 28}{space 2} 4.01e-06{col 39}{space 1}    4.77{col 48}{space 3}0.000{col 56}{space 4} .0000113{col 69}{space 3}  .000027
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} .0013694{col 28}{space 2} .0084953{col 39}{space 1}    0.16{col 48}{space 3}0.872{col 56}{space 4} -.015281{col 69}{space 3} .0180199
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.606897{col 28}{space 2} .4833689{col 39}{space 1}   -3.32{col 48}{space 3}0.001{col 56}{space 4}-2.554283{col 69}{space 3}-.6595114
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.311812{col 28}{space 2} .2315027{col 39}{space 1}   -5.67{col 48}{space 3}0.000{col 56}{space 4}-1.765549{col 69}{space 3}-.8580745
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.489589{col 28}{space 2} .1364265{col 39}{space 1}   25.58{col 48}{space 3}0.000{col 56}{space 4} 3.222198{col 69}{space 3}  3.75698
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8647331{col 28}{space 2} .0583935{col 56}{space 4}-.9431195{col 69}{space 3}-.6952643
{txt}         sigma {c |}{col 16}{res}{space 2} 32.77246{col 28}{space 2} 4.471034{col 56}{space 4} 25.08318{col 69}{space 3} 42.81891
{txt}        lambda {c |}{col 16}{res}{space 2}-28.33943{col 28}{space 2} 5.393156{col 56}{space 4}-38.90982{col 69}{space 3}-17.76904
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   32.11   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA15, title((A15))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop xr if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-425.21032}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-423.21357}  
Iteration 2:{space 3}log pseudolikelihood = {res:-422.75194}  
Iteration 3:{space 3}log pseudolikelihood = {res:-422.72887}  
Iteration 4:{space 3}log pseudolikelihood = {res:-422.72885}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,400
{txt}(regression model with sample selection)              Selected    = {res}        51
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    26.13
{txt}Log pseudolikelihood = {res}-422.7289                {txt}Prob > chi2       =     {res}0.0002

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.375272{col 28}{space 2} 1.077638{col 39}{space 1}   -3.13{col 48}{space 3}0.002{col 56}{space 4}-5.487403{col 69}{space 3} -1.26314
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 6.990333{col 28}{space 2}  10.8861{col 39}{space 1}    0.64{col 48}{space 3}0.521{col 56}{space 4}-14.34602{col 69}{space 3} 28.32669
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 12.85318{col 28}{space 2} 12.16016{col 39}{space 1}    1.06{col 48}{space 3}0.291{col 56}{space 4} -10.9803{col 69}{space 3} 36.68666
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-18.14307{col 28}{space 2} 6.487677{col 39}{space 1}   -2.80{col 48}{space 3}0.005{col 56}{space 4}-30.85869{col 69}{space 3} -5.42746
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-.2407715{col 28}{space 2} 4.216197{col 39}{space 1}   -0.06{col 48}{space 3}0.954{col 56}{space 4}-8.504367{col 69}{space 3} 8.022824
{txt}{space 12}xr {c |}{col 16}{res}{space 2}-.0059886{col 28}{space 2} .0048356{col 39}{space 1}   -1.24{col 48}{space 3}0.216{col 56}{space 4}-.0154661{col 69}{space 3}  .003489
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 234.1076{col 28}{space 2} 113.1073{col 39}{space 1}    2.07{col 48}{space 3}0.038{col 56}{space 4}  12.4213{col 69}{space 3} 455.7939
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0212936{col 28}{space 2} .0039348{col 39}{space 1}    5.41{col 48}{space 3}0.000{col 56}{space 4} .0135815{col 69}{space 3} .0290057
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1558863{col 28}{space 2}  .057423{col 39}{space 1}   -2.71{col 48}{space 3}0.007{col 56}{space 4}-.2684333{col 69}{space 3}-.0433394
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0520254{col 28}{space 2} .0709244{col 39}{space 1}    0.73{col 48}{space 3}0.463{col 56}{space 4}-.0869839{col 69}{space 3} .1910346
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000221{col 28}{space 2} 4.72e-06{col 39}{space 1}    4.68{col 48}{space 3}0.000{col 56}{space 4} .0000128{col 69}{space 3} .0000314
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0145618{col 28}{space 2} .0117197{col 39}{space 1}   -1.24{col 48}{space 3}0.214{col 56}{space 4} -.037532{col 69}{space 3} .0084083
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.126113{col 28}{space 2} .4912287{col 39}{space 1}   -2.29{col 48}{space 3}0.022{col 56}{space 4}-2.088904{col 69}{space 3}-.1633227
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.153115{col 28}{space 2} .2267753{col 39}{space 1}   -5.08{col 48}{space 3}0.000{col 56}{space 4}-1.597586{col 69}{space 3}-.7086437
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.475056{col 28}{space 2}  .142534{col 39}{space 1}   24.38{col 48}{space 3}0.000{col 56}{space 4} 3.195694{col 69}{space 3} 3.754417
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8187834{col 28}{space 2} .0747437{col 56}{space 4}-.9213044{col 69}{space 3}-.6098256
{txt}         sigma {c |}{col 16}{res}{space 2} 32.29963{col 28}{space 2} 4.603794{col 56}{space 4} 24.42713{col 69}{space 3} 42.70932
{txt}        lambda {c |}{col 16}{res}{space 2} -26.4464{col 28}{space 2} 5.957543{col 56}{space 4}-38.12297{col 69}{space 3}-14.76983
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   25.86   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA16, title((A16))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop currentaccount if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-440.57213}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-438.16136}  
Iteration 2:{space 3}log pseudolikelihood = {res:-437.66873}  
Iteration 3:{space 3}log pseudolikelihood = {res:-437.59792}  
Iteration 4:{space 3}log pseudolikelihood = {res:-437.59758}  
Iteration 5:{space 3}log pseudolikelihood = {res:-437.59758}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    36.25
{txt}Log pseudolikelihood = {res}-437.5976                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.658527{col 28}{space 2} .9599859{col 39}{space 1}   -3.81{col 48}{space 3}0.000{col 56}{space 4}-5.540065{col 69}{space 3}-1.776989
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.521503{col 28}{space 2} 10.35284{col 39}{space 1}    0.53{col 48}{space 3}0.594{col 56}{space 4} -14.7697{col 69}{space 3} 25.81271
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 13.14109{col 28}{space 2} 11.82803{col 39}{space 1}    1.11{col 48}{space 3}0.267{col 56}{space 4}-10.04143{col 69}{space 3}  36.3236
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-19.11615{col 28}{space 2} 6.093711{col 39}{space 1}   -3.14{col 48}{space 3}0.002{col 56}{space 4}-31.05961{col 69}{space 3}-7.172699
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.990908{col 28}{space 2} 3.719993{col 39}{space 1}   -0.54{col 48}{space 3}0.593{col 56}{space 4}-9.281961{col 69}{space 3} 5.300145
{txt}currentaccount {c |}{col 16}{res}{space 2} .0003908{col 28}{space 2} .0003121{col 39}{space 1}    1.25{col 48}{space 3}0.211{col 56}{space 4} -.000221{col 69}{space 3} .0010026
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 271.7619{col 28}{space 2}  95.4085{col 39}{space 1}    2.85{col 48}{space 3}0.004{col 56}{space 4}  84.7647{col 69}{space 3} 458.7591
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0214657{col 28}{space 2}  .003943{col 39}{space 1}    5.44{col 48}{space 3}0.000{col 56}{space 4} .0137377{col 69}{space 3} .0291938
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} -.153065{col 28}{space 2} .0557209{col 39}{space 1}   -2.75{col 48}{space 3}0.006{col 56}{space 4}-.2622759{col 69}{space 3}-.0438541
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0325125{col 28}{space 2} .0710781{col 39}{space 1}    0.46{col 48}{space 3}0.647{col 56}{space 4} -.106798{col 69}{space 3}  .171823
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000193{col 28}{space 2} 5.61e-06{col 39}{space 1}    3.44{col 48}{space 3}0.001{col 56}{space 4} 8.33e-06{col 69}{space 3} .0000303
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0133723{col 28}{space 2} .0112105{col 39}{space 1}   -1.19{col 48}{space 3}0.233{col 56}{space 4}-.0353444{col 69}{space 3} .0085999
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} -.985448{col 28}{space 2} .4874602{col 39}{space 1}   -2.02{col 48}{space 3}0.043{col 56}{space 4}-1.940852{col 69}{space 3}-.0300436
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.183768{col 28}{space 2} .2425981{col 39}{space 1}   -4.88{col 48}{space 3}0.000{col 56}{space 4}-1.659252{col 69}{space 3}-.7082845
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.484482{col 28}{space 2} .1312555{col 39}{space 1}   26.55{col 48}{space 3}0.000{col 56}{space 4} 3.227226{col 69}{space 3} 3.741738
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8286361{col 28}{space 2} .0760211{col 56}{space 4}-.9301163{col 69}{space 3}   -.6096
{txt}         sigma {c |}{col 16}{res}{space 2} 32.60555{col 28}{space 2} 4.279656{col 56}{space 4} 25.20964{col 69}{space 3} 42.17124
{txt}        lambda {c |}{col 16}{res}{space 2}-27.01813{col 28}{space 2} 5.821901{col 56}{space 4}-38.42885{col 69}{space 3}-15.60742
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   23.81   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA17, title((A17))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop budgetbalance_prs if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-257.63271}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-254.24962}  
Iteration 2:{space 3}log pseudolikelihood = {res:   -253.49}  
Iteration 3:{space 3}log pseudolikelihood = {res:-253.35559}  
Iteration 4:{space 3}log pseudolikelihood = {res:-253.35182}  
Iteration 5:{space 3}log pseudolikelihood = {res:-253.35181}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,379
{txt}(regression model with sample selection)              Selected    = {res}        30
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    68.93
{txt}Log pseudolikelihood = {res}-253.3518                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 83:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 18}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 19}{c |}{col 31}    Robust
{col 1}          haircut{col 19}{c |}      Coef.{col 31}   Std. Err.{col 43}      z{col 51}   P>|z|{col 59}     [95% Con{col 72}f. Interval]
{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut           {txt}{c |}
{space 9}persrank {c |}{col 19}{res}{space 2}-4.227203{col 31}{space 2} 1.354656{col 42}{space 1}   -3.12{col 51}{space 3}0.002{col 59}{space 4}-6.882279{col 72}{space 3}-1.572127
{txt}{space 9}rightgov {c |}{col 19}{res}{space 2}-7.638107{col 31}{space 2} 8.539839{col 42}{space 1}   -0.89{col 51}{space 3}0.371{col 59}{space 4}-24.37588{col 72}{space 3}  9.09967
{txt}{space 10}leftgov {c |}{col 19}{res}{space 2}  14.9479{col 31}{space 2} 9.288227{col 42}{space 1}    1.61{col 51}{space 3}0.108{col 59}{space 4}-3.256691{col 72}{space 3} 33.15249
{txt}{space 9}loggdppc {c |}{col 19}{res}{space 2}-22.79838{col 31}{space 2} 4.730573{col 42}{space 1}   -4.82{col 51}{space 3}0.000{col 59}{space 4}-32.07013{col 72}{space 3}-13.52663
{txt}{space 11}logpop {c |}{col 19}{res}{space 2}-3.961556{col 31}{space 2} 2.647093{col 42}{space 1}   -1.50{col 51}{space 3}0.135{col 59}{space 4}-9.149762{col 72}{space 3}  1.22665
{txt}budgetbalance_prs {c |}{col 19}{res}{space 2}  .864298{col 31}{space 2} .8602858{col 42}{space 1}    1.00{col 51}{space 3}0.315{col 59}{space 4}-.8218312{col 72}{space 3} 2.550427
{txt}{space 12}_cons {c |}{col 19}{res}{space 2} 356.1798{col 31}{space 2} 65.29514{col 42}{space 1}    5.45{col 51}{space 3}0.000{col 59}{space 4} 228.2037{col 72}{space 3}  484.156
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select            {txt}{c |}
{space 11}total2 {c |}{col 19}{res}{space 2} .0192011{col 31}{space 2} .0035746{col 42}{space 1}    5.37{col 51}{space 3}0.000{col 59}{space 4}  .012195{col 72}{space 3} .0262073
{txt}{space 9}logforex {c |}{col 19}{res}{space 2}-.0627197{col 31}{space 2} .0437645{col 42}{space 1}   -1.43{col 51}{space 3}0.152{col 59}{space 4}-.1484966{col 72}{space 3} .0230572
{txt}{space 9}loggdppc {c |}{col 19}{res}{space 2}-.0411431{col 31}{space 2}  .080342{col 42}{space 1}   -0.51{col 51}{space 3}0.609{col 59}{space 4}-.1986105{col 72}{space 3} .1163243
{txt}{space 3}currentaccount {c |}{col 19}{res}{space 2}  .000018{col 31}{space 2} 3.46e-06{col 42}{space 1}    5.20{col 51}{space 3}0.000{col 59}{space 4} .0000112{col 72}{space 3} .0000248
{txt}{space 8}gdpgrowth {c |}{col 19}{res}{space 2} -.010679{col 31}{space 2} .0176854{col 42}{space 1}   -0.60{col 51}{space 3}0.546{col 59}{space 4}-.0453418{col 72}{space 3} .0239837
{txt}{space 12}_cons {c |}{col 19}{res}{space 2}-1.317437{col 31}{space 2} .5234768{col 42}{space 1}   -2.52{col 51}{space 3}0.012{col 59}{space 4}-2.343432{col 72}{space 3}-.2914409
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}/athrho {c |}{col 19}{res}{space 2}-1.519923{col 31}{space 2} .3747443{col 42}{space 1}   -4.06{col 51}{space 3}0.000{col 59}{space 4}-2.254408{col 72}{space 3}-.7854377
{txt}{space 9}/lnsigma {c |}{col 19}{res}{space 2} 3.389948{col 31}{space 2} .1509411{col 42}{space 1}   22.46{col 51}{space 3}0.000{col 59}{space 4} 3.094109{col 72}{space 3} 3.685787
{txt}{hline 18}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
              rho {c |}{col 19}{res}{space 2}-.9086842{col 31}{space 2} .0653153{col 59}{space 4}-.9782169{col 72}{space 3}-.6558167
{txt}            sigma {c |}{col 19}{res}{space 2} 29.66442{col 31}{space 2} 4.477579{col 59}{space 4} 22.06757{col 72}{space 3} 39.87651
{txt}           lambda {c |}{col 19}{res}{space 2}-26.95559{col 31}{space 2} 5.618193{col 59}{space 4}-37.96704{col 72}{space 3}-15.94413
{txt}{hline 18}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   16.45   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA18, title((A18))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop kaopen if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-437.83156}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-435.22219}  
Iteration 2:{space 3}log pseudolikelihood = {res:-434.80876}  
Iteration 3:{space 3}log pseudolikelihood = {res:-434.75377}  
Iteration 4:{space 3}log pseudolikelihood = {res:-434.75356}  
Iteration 5:{space 3}log pseudolikelihood = {res:-434.75356}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    45.74
{txt}Log pseudolikelihood = {res}-434.7536                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.036351{col 28}{space 2} .9188141{col 39}{space 1}   -3.30{col 48}{space 3}0.001{col 56}{space 4}-4.837194{col 69}{space 3}-1.235509
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} .2998606{col 28}{space 2} 9.620477{col 39}{space 1}    0.03{col 48}{space 3}0.975{col 56}{space 4}-18.55593{col 69}{space 3} 19.15565
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 14.64297{col 28}{space 2} 10.41638{col 39}{space 1}    1.41{col 48}{space 3}0.160{col 56}{space 4}-5.772751{col 69}{space 3}  35.0587
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-23.82601{col 28}{space 2} 5.842501{col 39}{space 1}   -4.08{col 48}{space 3}0.000{col 56}{space 4} -35.2771{col 69}{space 3}-12.37492
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} .1143948{col 28}{space 2}  3.51149{col 39}{space 1}    0.03{col 48}{space 3}0.974{col 56}{space 4}-6.767999{col 69}{space 3} 6.996789
{txt}{space 8}kaopen {c |}{col 16}{res}{space 2} 6.144421{col 28}{space 2} 2.101773{col 39}{space 1}    2.92{col 48}{space 3}0.003{col 56}{space 4} 2.025022{col 69}{space 3} 10.26382
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}  279.135{col 28}{space 2} 83.84323{col 39}{space 1}    3.33{col 48}{space 3}0.001{col 56}{space 4} 114.8053{col 69}{space 3} 443.4647
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2}  .021473{col 28}{space 2} .0041808{col 39}{space 1}    5.14{col 48}{space 3}0.000{col 56}{space 4} .0132788{col 69}{space 3} .0296672
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1563841{col 28}{space 2} .0557031{col 39}{space 1}   -2.81{col 48}{space 3}0.005{col 56}{space 4}-.2655603{col 69}{space 3} -.047208
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0381849{col 28}{space 2} .0703128{col 39}{space 1}    0.54{col 48}{space 3}0.587{col 56}{space 4}-.0996256{col 69}{space 3} .1759954
{txt}currentaccount {c |}{col 16}{res}{space 2}  .000021{col 28}{space 2} 4.94e-06{col 39}{space 1}    4.25{col 48}{space 3}0.000{col 56}{space 4} .0000113{col 69}{space 3} .0000307
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0143468{col 28}{space 2} .0109031{col 39}{space 1}   -1.32{col 48}{space 3}0.188{col 56}{space 4}-.0357164{col 69}{space 3} .0070229
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.000414{col 28}{space 2} .4818311{col 39}{space 1}   -2.08{col 48}{space 3}0.038{col 56}{space 4}-1.944786{col 69}{space 3}-.0560423
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.320267{col 28}{space 2} .3032826{col 39}{space 1}   -4.35{col 48}{space 3}0.000{col 56}{space 4} -1.91469{col 69}{space 3}-.7258442
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.499418{col 28}{space 2} .1340649{col 39}{space 1}   26.10{col 48}{space 3}0.000{col 56}{space 4} 3.236655{col 69}{space 3}  3.76218
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8668503{col 28}{space 2} .0753871{col 56}{space 4}-.9574776{col 69}{space 3}-.6205163
{txt}         sigma {c |}{col 16}{res}{space 2} 33.09617{col 28}{space 2} 4.437034{col 56}{space 4} 25.44846{col 69}{space 3} 43.04215
{txt}        lambda {c |}{col 16}{res}{space 2}-28.68943{col 28}{space 2} 6.168604{col 56}{space 4}-40.77967{col 69}{space 3}-16.59919
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   18.95   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA19, title((A19))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop logforex if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-445.29044}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res: -439.0907}  
Iteration 2:{space 3}log pseudolikelihood = {res:-437.41662}  
Iteration 3:{space 3}log pseudolikelihood = {res:-437.10132}  
Iteration 4:{space 3}log pseudolikelihood = {res: -437.0991}  
Iteration 5:{space 3}log pseudolikelihood = {res: -437.0991}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    33.38
{txt}Log pseudolikelihood = {res}-437.0991                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.397106{col 28}{space 2} .9657947{col 39}{space 1}   -3.52{col 48}{space 3}0.000{col 56}{space 4}-5.290028{col 69}{space 3}-1.504183
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.493826{col 28}{space 2} 9.643921{col 39}{space 1}    0.57{col 48}{space 3}0.569{col 56}{space 4}-13.40791{col 69}{space 3} 24.39556
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2}  11.5337{col 28}{space 2} 11.18037{col 39}{space 1}    1.03{col 48}{space 3}0.302{col 56}{space 4}-10.37943{col 69}{space 3} 33.44683
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} -24.6832{col 28}{space 2} 6.077503{col 39}{space 1}   -4.06{col 48}{space 3}0.000{col 56}{space 4}-36.59489{col 69}{space 3}-12.77152
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-5.786155{col 28}{space 2} 3.802515{col 39}{space 1}   -1.52{col 48}{space 3}0.128{col 56}{space 4}-13.23895{col 69}{space 3} 1.666637
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} 4.907676{col 28}{space 2} 3.896065{col 39}{space 1}    1.26{col 48}{space 3}0.208{col 56}{space 4}-2.728471{col 69}{space 3} 12.54382
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 347.1089{col 28}{space 2} 79.02616{col 39}{space 1}    4.39{col 48}{space 3}0.000{col 56}{space 4} 192.2205{col 69}{space 3} 501.9974
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0210601{col 28}{space 2} .0039294{col 39}{space 1}    5.36{col 48}{space 3}0.000{col 56}{space 4} .0133586{col 69}{space 3} .0287616
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1634032{col 28}{space 2} .0575715{col 39}{space 1}   -2.84{col 48}{space 3}0.005{col 56}{space 4}-.2762412{col 69}{space 3}-.0505652
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0422136{col 28}{space 2} .0711757{col 39}{space 1}    0.59{col 48}{space 3}0.553{col 56}{space 4}-.0972882{col 69}{space 3} .1817154
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000212{col 28}{space 2} 4.68e-06{col 39}{space 1}    4.53{col 48}{space 3}0.000{col 56}{space 4}  .000012{col 69}{space 3} .0000303
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} -.013461{col 28}{space 2} .0112906{col 39}{space 1}   -1.19{col 48}{space 3}0.233{col 56}{space 4}-.0355902{col 69}{space 3} .0086682
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-.9867245{col 28}{space 2}  .489995{col 39}{space 1}   -2.01{col 48}{space 3}0.044{col 56}{space 4}-1.947097{col 69}{space 3}-.0263518
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.325355{col 28}{space 2} .1962708{col 39}{space 1}   -6.75{col 48}{space 3}0.000{col 56}{space 4}-1.710039{col 69}{space 3}-.9406712
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.558098{col 28}{space 2} .1016151{col 39}{space 1}   35.02{col 48}{space 3}0.000{col 56}{space 4} 3.358936{col 69}{space 3}  3.75726
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8681095{col 28}{space 2} .0483584{col 56}{space 4}-.9366523{col 69}{space 3}-.7355305
{txt}         sigma {c |}{col 16}{res}{space 2} 35.09638{col 28}{space 2} 3.566322{col 56}{space 4} 28.75858{col 69}{space 3} 42.83091
{txt}        lambda {c |}{col 16}{res}{space 2} -30.4675{col 28}{space 2} 4.496195{col 56}{space 4}-39.27988{col 69}{space 3}-21.65512
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   45.60   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA20, title((A20))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop world_g_i if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-425.12007}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-420.82524}  
Iteration 2:{space 3}log pseudolikelihood = {res: -420.1551}  
Iteration 3:{space 3}log pseudolikelihood = {res:-420.14131}  
Iteration 4:{space 3}log pseudolikelihood = {res: -420.1413}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,400
{txt}(regression model with sample selection)              Selected    = {res}        51
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    28.81
{txt}Log pseudolikelihood = {res}-420.1413                {txt}Prob > chi2       =     {res}0.0001

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.818921{col 28}{space 2} 1.004885{col 39}{space 1}   -2.81{col 48}{space 3}0.005{col 56}{space 4}-4.788459{col 69}{space 3}-.8493823
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} .2285503{col 28}{space 2} 8.978312{col 39}{space 1}    0.03{col 48}{space 3}0.980{col 56}{space 4}-17.36862{col 69}{space 3} 17.82572
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 11.57799{col 28}{space 2} 9.730301{col 39}{space 1}    1.19{col 48}{space 3}0.234{col 56}{space 4}-7.493046{col 69}{space 3} 30.64903
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}  -20.867{col 28}{space 2} 6.238769{col 39}{space 1}   -3.34{col 48}{space 3}0.001{col 56}{space 4}-33.09476{col 69}{space 3}-8.639235
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-3.774908{col 28}{space 2} 3.643481{col 39}{space 1}   -1.04{col 48}{space 3}0.300{col 56}{space 4}  -10.916{col 69}{space 3} 3.366184
{txt}{space 5}world_g_i {c |}{col 16}{res}{space 2} -2.39613{col 28}{space 2} 1.593869{col 39}{space 1}   -1.50{col 48}{space 3}0.133{col 56}{space 4}-5.520056{col 69}{space 3} .7277966
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 337.0045{col 28}{space 2} 87.81019{col 39}{space 1}    3.84{col 48}{space 3}0.000{col 56}{space 4} 164.8997{col 69}{space 3} 509.1093
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0211876{col 28}{space 2} .0042228{col 39}{space 1}    5.02{col 48}{space 3}0.000{col 56}{space 4} .0129109{col 69}{space 3} .0294642
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1467251{col 28}{space 2} .0489372{col 39}{space 1}   -3.00{col 48}{space 3}0.003{col 56}{space 4}-.2426404{col 69}{space 3}-.0508099
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0343672{col 28}{space 2} .0691466{col 39}{space 1}    0.50{col 48}{space 3}0.619{col 56}{space 4}-.1011575{col 69}{space 3}  .169892
{txt}currentaccount {c |}{col 16}{res}{space 2}   .00002{col 28}{space 2} 4.59e-06{col 39}{space 1}    4.36{col 48}{space 3}0.000{col 56}{space 4}  .000011{col 69}{space 3}  .000029
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0136501{col 28}{space 2} .0106044{col 39}{space 1}   -1.29{col 48}{space 3}0.198{col 56}{space 4}-.0344344{col 69}{space 3} .0071342
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.054642{col 28}{space 2} .4682894{col 39}{space 1}   -2.25{col 48}{space 3}0.024{col 56}{space 4}-1.972473{col 69}{space 3}-.1368117
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.398818{col 28}{space 2} .2345877{col 39}{space 1}   -5.96{col 48}{space 3}0.000{col 56}{space 4}-1.858602{col 69}{space 3} -.939035
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.527858{col 28}{space 2} .1226094{col 39}{space 1}   28.77{col 48}{space 3}0.000{col 56}{space 4} 3.287548{col 69}{space 3} 3.768168
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2} -.885096{col 28}{space 2} .0508129{col 56}{space 4}-.9525495{col 69}{space 3}-.7347786
{txt}         sigma {c |}{col 16}{res}{space 2} 34.05097{col 28}{space 2}  4.17497{col 56}{space 4} 26.77713{col 69}{space 3} 43.30069
{txt}        lambda {c |}{col 16}{res}{space 2}-30.13837{col 28}{space 2} 4.988367{col 56}{space 4}-39.91539{col 69}{space 3}-20.36135
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   35.56   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA21, title((A21))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop vxo if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-351.11308}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-347.60454}  
Iteration 2:{space 3}log pseudolikelihood = {res:-346.85139}  
Iteration 3:{space 3}log pseudolikelihood = {res:-346.80839}  
Iteration 4:{space 3}log pseudolikelihood = {res:-346.80814}  
Iteration 5:{space 3}log pseudolikelihood = {res:-346.80814}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,390
{txt}(regression model with sample selection)              Selected    = {res}        41
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    52.26
{txt}Log pseudolikelihood = {res}-346.8081                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.693344{col 28}{space 2} 1.115207{col 39}{space 1}   -2.42{col 48}{space 3}0.016{col 56}{space 4}-4.879111{col 69}{space 3}-.5075782
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-5.076308{col 28}{space 2} 8.965993{col 39}{space 1}   -0.57{col 48}{space 3}0.571{col 56}{space 4}-22.64933{col 69}{space 3} 12.49672
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 4.715009{col 28}{space 2} 9.961043{col 39}{space 1}    0.47{col 48}{space 3}0.636{col 56}{space 4}-14.80828{col 69}{space 3} 24.23829
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-23.85535{col 28}{space 2} 5.413083{col 39}{space 1}   -4.41{col 48}{space 3}0.000{col 56}{space 4} -34.4648{col 69}{space 3} -13.2459
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-4.927945{col 28}{space 2} 2.983884{col 39}{space 1}   -1.65{col 48}{space 3}0.099{col 56}{space 4}-10.77625{col 69}{space 3}  .920359
{txt}{space 11}vxo {c |}{col 16}{res}{space 2}-1.128146{col 28}{space 2} .7552259{col 39}{space 1}   -1.49{col 48}{space 3}0.135{col 56}{space 4}-2.608362{col 69}{space 3} .3520692
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 387.0965{col 28}{space 2} 73.02373{col 39}{space 1}    5.30{col 48}{space 3}0.000{col 56}{space 4} 243.9726{col 69}{space 3} 530.2204
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0210053{col 28}{space 2} .0039126{col 39}{space 1}    5.37{col 48}{space 3}0.000{col 56}{space 4} .0133367{col 69}{space 3} .0286739
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1228003{col 28}{space 2} .0433275{col 39}{space 1}   -2.83{col 48}{space 3}0.005{col 56}{space 4}-.2077206{col 69}{space 3}  -.03788
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0188717{col 28}{space 2} .0743386{col 39}{space 1}    0.25{col 48}{space 3}0.800{col 56}{space 4}-.1268293{col 69}{space 3} .1645727
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000204{col 28}{space 2} 4.08e-06{col 39}{space 1}    5.01{col 48}{space 3}0.000{col 56}{space 4} .0000125{col 69}{space 3} .0000284
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0010658{col 28}{space 2}  .014882{col 39}{space 1}   -0.07{col 48}{space 3}0.943{col 56}{space 4} -.030234{col 69}{space 3} .0281024
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.238122{col 28}{space 2} .4984447{col 39}{space 1}   -2.48{col 48}{space 3}0.013{col 56}{space 4}-2.215056{col 69}{space 3}-.2611886
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.262039{col 28}{space 2} .2586367{col 39}{space 1}   -4.88{col 48}{space 3}0.000{col 56}{space 4}-1.768958{col 69}{space 3}-.7551206
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.443169{col 28}{space 2} .1304698{col 39}{space 1}   26.39{col 48}{space 3}0.000{col 56}{space 4} 3.187453{col 69}{space 3} 3.698885
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8516253{col 28}{space 2} .0710564{col 56}{space 4}-.9434951{col 69}{space 3}-.6381939
{txt}         sigma {c |}{col 16}{res}{space 2} 31.28595{col 28}{space 2} 4.081872{col 56}{space 4} 24.22664{col 69}{space 3} 40.40224
{txt}        lambda {c |}{col 16}{res}{space 2} -26.6439{col 28}{space 2} 5.369609{col 56}{space 4}-37.16814{col 69}{space 3}-16.11966
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   23.81   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA22, title((A22))
{txt}
{com}. estout MODELA12 MODELA13 MODELA14 MODELA15 MODELA16 MODELA17 MODELA18 MODELA19 MODELA20 MODELA21 MODELA22, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea6.tex", replace style(tex)
{res}{txt}(note: file tablea6.tex not found)
(output written to {browse  `"tablea6.tex"'})

{com}. 
. *Table A7
. heckman haircut persrank rightgov leftgov loggdppc logpop cg gdpgrowth inflation xr currentaccount kaopen logforex world_g_i if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-361.01983}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-358.67297}  
Iteration 2:{space 3}log pseudolikelihood = {res: -358.0629}  
Iteration 3:{space 3}log pseudolikelihood = {res:-357.97781}  
Iteration 4:{space 3}log pseudolikelihood = {res:-357.97747}  
Iteration 5:{space 3}log pseudolikelihood = {res:-357.97747}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,392
{txt}(regression model with sample selection)              Selected    = {res}        43
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}13{txt})     =  {res}    52.27
{txt}Log pseudolikelihood = {res}-357.9775                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.190769{col 28}{space 2} 1.041166{col 39}{space 1}   -3.06{col 48}{space 3}0.002{col 56}{space 4}-5.231416{col 69}{space 3}-1.150122
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-1.172133{col 28}{space 2} 13.08522{col 39}{space 1}   -0.09{col 48}{space 3}0.929{col 56}{space 4} -26.8187{col 69}{space 3} 24.47443
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 13.35149{col 28}{space 2} 12.23899{col 39}{space 1}    1.09{col 48}{space 3}0.275{col 56}{space 4}-10.63649{col 69}{space 3} 37.33947
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-18.91035{col 28}{space 2} 9.119795{col 39}{space 1}   -2.07{col 48}{space 3}0.038{col 56}{space 4}-36.78482{col 69}{space 3}-1.035878
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} 1.087607{col 28}{space 2} 6.548808{col 39}{space 1}    0.17{col 48}{space 3}0.868{col 56}{space 4}-11.74782{col 69}{space 3} 13.92304
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0284326{col 28}{space 2} .0666475{col 39}{space 1}    0.43{col 48}{space 3}0.670{col 56}{space 4} -.102194{col 69}{space 3} .1590592
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.5299323{col 28}{space 2} .9059473{col 39}{space 1}   -0.58{col 48}{space 3}0.559{col 56}{space 4}-2.305556{col 69}{space 3} 1.245692
{txt}{space 5}inflation {c |}{col 16}{res}{space 2} .0066828{col 28}{space 2} .0099827{col 39}{space 1}    0.67{col 48}{space 3}0.503{col 56}{space 4} -.012883{col 69}{space 3} .0262486
{txt}{space 12}xr {c |}{col 16}{res}{space 2}-.0039344{col 28}{space 2} .0067211{col 39}{space 1}   -0.59{col 48}{space 3}0.558{col 56}{space 4}-.0171075{col 69}{space 3} .0092386
{txt}currentaccount {c |}{col 16}{res}{space 2} .0005273{col 28}{space 2} .0004639{col 39}{space 1}    1.14{col 48}{space 3}0.256{col 56}{space 4}-.0003819{col 69}{space 3} .0014366
{txt}{space 8}kaopen {c |}{col 16}{res}{space 2} 6.090193{col 28}{space 2} 4.066257{col 39}{space 1}    1.50{col 48}{space 3}0.134{col 56}{space 4}-1.879523{col 69}{space 3} 14.05991
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-2.724557{col 28}{space 2} 5.356841{col 39}{space 1}   -0.51{col 48}{space 3}0.611{col 56}{space 4}-13.22377{col 69}{space 3} 7.774658
{txt}{space 5}world_g_i {c |}{col 16}{res}{space 2} .3487733{col 28}{space 2} 1.773455{col 39}{space 1}    0.20{col 48}{space 3}0.844{col 56}{space 4}-3.127135{col 69}{space 3} 3.824682
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 233.8585{col 28}{space 2} 155.8602{col 39}{space 1}    1.50{col 48}{space 3}0.134{col 56}{space 4}-71.62194{col 69}{space 3} 539.3389
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0212713{col 28}{space 2} .0038772{col 39}{space 1}    5.49{col 48}{space 3}0.000{col 56}{space 4} .0136722{col 69}{space 3} .0288705
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1262346{col 28}{space 2} .0526746{col 39}{space 1}   -2.40{col 48}{space 3}0.017{col 56}{space 4}-.2294749{col 69}{space 3}-.0229942
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0241366{col 28}{space 2} .0731258{col 39}{space 1}    0.33{col 48}{space 3}0.741{col 56}{space 4}-.1191874{col 69}{space 3} .1674606
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000183{col 28}{space 2} 5.37e-06{col 39}{space 1}    3.40{col 48}{space 3}0.001{col 56}{space 4} 7.75e-06{col 69}{space 3} .0000288
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0130418{col 28}{space 2} .0120496{col 39}{space 1}   -1.08{col 48}{space 3}0.279{col 56}{space 4}-.0366586{col 69}{space 3} .0105749
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.201001{col 28}{space 2} .4945259{col 39}{space 1}   -2.43{col 48}{space 3}0.015{col 56}{space 4}-2.170254{col 69}{space 3}-.2317478
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.078281{col 28}{space 2} .4425818{col 39}{space 1}   -2.44{col 48}{space 3}0.015{col 56}{space 4}-1.945726{col 69}{space 3}-.2108366
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.311644{col 28}{space 2}  .259908{col 39}{space 1}   12.74{col 48}{space 3}0.000{col 56}{space 4} 2.802234{col 69}{space 3} 3.821054
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.7925608{col 28}{space 2} .1645729{col 56}{space 4}-.9599855{col 69}{space 3}-.2077671
{txt}         sigma {c |}{col 16}{res}{space 2} 27.43018{col 28}{space 2} 7.129321{col 56}{space 4} 16.48142{col 69}{space 3}  45.6523
{txt}        lambda {c |}{col 16}{res}{space 2}-21.74008{col 28}{space 2} 10.05131{col 56}{space 4}-41.44029{col 69}{space 3}-2.039874
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    5.94   {txt}Prob > chi2 = {res}0.0148
{txt}
{com}. est store MODELA23, title((A23))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop cg gdpgrowth inflation xr currentaccount kaopen logforex world_g_i vxo if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-312.24824}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-307.84045}  (not concave)
Iteration 2:{space 3}log pseudolikelihood = {res:-307.01249}  
Iteration 3:{space 3}log pseudolikelihood = {res:-306.23347}  
Iteration 4:{space 3}log pseudolikelihood = {res:-305.95128}  
Iteration 5:{space 3}log pseudolikelihood = {res:-305.94489}  
Iteration 6:{space 3}log pseudolikelihood = {res:-305.94485}  
Iteration 7:{space 3}log pseudolikelihood = {res:-305.94485}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,385
{txt}(regression model with sample selection)              Selected    = {res}        36
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}14{txt})     =  {res}   244.29
{txt}Log pseudolikelihood = {res}-305.9449                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2} -2.91874{col 28}{space 2} 1.039269{col 39}{space 1}   -2.81{col 48}{space 3}0.005{col 56}{space 4}-4.955669{col 69}{space 3}-.8818101
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-3.677657{col 28}{space 2} 10.64159{col 39}{space 1}   -0.35{col 48}{space 3}0.730{col 56}{space 4}-24.53478{col 69}{space 3} 17.17947
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2}    9.132{col 28}{space 2} 10.98122{col 39}{space 1}    0.83{col 48}{space 3}0.406{col 56}{space 4} -12.3908{col 69}{space 3}  30.6548
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-24.93323{col 28}{space 2} 7.016584{col 39}{space 1}   -3.55{col 48}{space 3}0.000{col 56}{space 4}-38.68549{col 69}{space 3}-11.18098
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} -2.79513{col 28}{space 2} 6.769949{col 39}{space 1}   -0.41{col 48}{space 3}0.680{col 56}{space 4}-16.06399{col 69}{space 3} 10.47373
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0711701{col 28}{space 2} .0736874{col 39}{space 1}    0.97{col 48}{space 3}0.334{col 56}{space 4}-.0732544{col 69}{space 3} .2155947
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-1.185315{col 28}{space 2} .8667645{col 39}{space 1}   -1.37{col 48}{space 3}0.171{col 56}{space 4}-2.884143{col 69}{space 3} .5135118
{txt}{space 5}inflation {c |}{col 16}{res}{space 2} .0010669{col 28}{space 2} .0072156{col 39}{space 1}    0.15{col 48}{space 3}0.882{col 56}{space 4}-.0130755{col 69}{space 3} .0152092
{txt}{space 12}xr {c |}{col 16}{res}{space 2}-.0120583{col 28}{space 2} .0057769{col 39}{space 1}   -2.09{col 48}{space 3}0.037{col 56}{space 4}-.0233809{col 69}{space 3}-.0007357
{txt}currentaccount {c |}{col 16}{res}{space 2} .0007115{col 28}{space 2} .0003509{col 39}{space 1}    2.03{col 48}{space 3}0.043{col 56}{space 4} .0000238{col 69}{space 3} .0013992
{txt}{space 8}kaopen {c |}{col 16}{res}{space 2} 5.488778{col 28}{space 2} 4.295039{col 39}{space 1}    1.28{col 48}{space 3}0.201{col 56}{space 4}-2.929343{col 69}{space 3}  13.9069
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.2149943{col 28}{space 2} 5.410509{col 39}{space 1}   -0.04{col 48}{space 3}0.968{col 56}{space 4} -10.8194{col 69}{space 3} 10.38941
{txt}{space 5}world_g_i {c |}{col 16}{res}{space 2} 2.740615{col 28}{space 2} 2.257035{col 39}{space 1}    1.21{col 48}{space 3}0.225{col 56}{space 4}-1.683093{col 69}{space 3} 7.164323
{txt}{space 11}vxo {c |}{col 16}{res}{space 2}-1.516538{col 28}{space 2}  .680635{col 39}{space 1}   -2.23{col 48}{space 3}0.026{col 56}{space 4}-2.850558{col 69}{space 3}-.1825176
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 342.9962{col 28}{space 2} 130.4051{col 39}{space 1}    2.63{col 48}{space 3}0.009{col 56}{space 4}  87.4069{col 69}{space 3} 598.5856
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0213285{col 28}{space 2} .0037479{col 39}{space 1}    5.69{col 48}{space 3}0.000{col 56}{space 4} .0139827{col 69}{space 3} .0286743
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.0989778{col 28}{space 2} .0459384{col 39}{space 1}   -2.15{col 48}{space 3}0.031{col 56}{space 4}-.1890154{col 69}{space 3}-.0089402
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0085949{col 28}{space 2} .0789031{col 39}{space 1}    0.11{col 48}{space 3}0.913{col 56}{space 4}-.1460523{col 69}{space 3} .1632421
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000166{col 28}{space 2} 4.94e-06{col 39}{space 1}    3.36{col 48}{space 3}0.001{col 56}{space 4} 6.93e-06{col 69}{space 3} .0000263
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} .0027191{col 28}{space 2}  .015307{col 39}{space 1}    0.18{col 48}{space 3}0.859{col 56}{space 4}-.0272821{col 69}{space 3} .0327202
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.400561{col 28}{space 2} .5124243{col 39}{space 1}   -2.73{col 48}{space 3}0.006{col 56}{space 4}-2.404894{col 69}{space 3}-.3962274
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.071495{col 28}{space 2} .3200709{col 39}{space 1}   -3.35{col 48}{space 3}0.001{col 56}{space 4}-1.698823{col 69}{space 3}-.4441679
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.266065{col 28}{space 2} .2101878{col 39}{space 1}   15.54{col 48}{space 3}0.000{col 56}{space 4} 2.854105{col 69}{space 3} 3.678026
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.7900239{col 28}{space 2} .1203026{col 56}{space 4}-.9352617{col 69}{space 3}-.4170932
{txt}         sigma {c |}{col 16}{res}{space 2} 26.20801{col 28}{space 2} 5.508604{col 56}{space 4} 17.35889{col 69}{space 3}  39.5682
{txt}        lambda {c |}{col 16}{res}{space 2}-20.70495{col 28}{space 2} 7.233088{col 56}{space 4}-34.88155{col 69}{space 3}-6.528363
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   11.21   {txt}Prob > chi2 = {res}0.0008
{txt}
{com}. est store MODELA24, title((A24))
{txt}
{com}. reg haircut persrank rightgov leftgov loggdppc logpop cg gdpgrowth inflation xr currentaccount kaopen logforex world_g_i if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        43
                                                {txt}F(13, 21)         =  {res}     2.53
                                                {txt}Prob > F          = {res}    0.0283
                                                {txt}R-squared         = {res}    0.4488
                                                {txt}Root MSE          =    {res} 23.602

{txt}{ralign 80:(Std. Err. adjusted for {res:22} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      t{col 48}   P>|t|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.409071{col 28}{space 2} 1.364879{col 39}{space 1}   -2.50{col 48}{space 3}0.021{col 56}{space 4}-6.247493{col 69}{space 3}-.5706492
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 1.570942{col 28}{space 2} 18.27997{col 39}{space 1}    0.09{col 48}{space 3}0.932{col 56}{space 4}-36.44434{col 69}{space 3} 39.58623
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 23.06286{col 28}{space 2} 17.19036{col 39}{space 1}    1.34{col 48}{space 3}0.194{col 56}{space 4}-12.68646{col 69}{space 3} 58.81218
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-9.130175{col 28}{space 2} 7.474263{col 39}{space 1}   -1.22{col 48}{space 3}0.235{col 56}{space 4}-24.67376{col 69}{space 3} 6.413405
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} 7.359922{col 28}{space 2} 6.342872{col 39}{space 1}    1.16{col 48}{space 3}0.259{col 56}{space 4}-5.830803{col 69}{space 3} 20.55065
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .1016097{col 28}{space 2} .0687746{col 39}{space 1}    1.48{col 48}{space 3}0.154{col 56}{space 4}-.0414149{col 69}{space 3} .2446342
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.6486217{col 28}{space 2}  1.30144{col 39}{space 1}   -0.50{col 48}{space 3}0.623{col 56}{space 4}-3.355114{col 69}{space 3} 2.057871
{txt}{space 5}inflation {c |}{col 16}{res}{space 2} .0178216{col 28}{space 2}  .011173{col 39}{space 1}    1.60{col 48}{space 3}0.126{col 56}{space 4}-.0054138{col 69}{space 3} .0410571
{txt}{space 12}xr {c |}{col 16}{res}{space 2}-.0003335{col 28}{space 2} .0076836{col 39}{space 1}   -0.04{col 48}{space 3}0.966{col 56}{space 4}-.0163124{col 69}{space 3} .0156453
{txt}currentaccount {c |}{col 16}{res}{space 2} .0011079{col 28}{space 2} .0004469{col 39}{space 1}    2.48{col 48}{space 3}0.022{col 56}{space 4} .0001786{col 69}{space 3} .0020372
{txt}{space 8}kaopen {c |}{col 16}{res}{space 2} 6.633851{col 28}{space 2}  4.88046{col 39}{space 1}    1.36{col 48}{space 3}0.188{col 56}{space 4}-3.515621{col 69}{space 3} 16.78332
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-8.124457{col 28}{space 2} 4.962193{col 39}{space 1}   -1.64{col 48}{space 3}0.116{col 56}{space 4} -18.4439{col 69}{space 3} 2.194989
{txt}{space 5}world_g_i {c |}{col 16}{res}{space 2}-.5961884{col 28}{space 2} 2.153095{col 39}{space 1}   -0.28{col 48}{space 3}0.785{col 56}{space 4}-5.073794{col 69}{space 3} 3.881418
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 48.37089{col 28}{space 2}  132.847{col 39}{space 1}    0.36{col 48}{space 3}0.719{col 56}{space 4}-227.8996{col 69}{space 3} 324.6414
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA25, title((A25))
{txt}
{com}. reg haircut persrank rightgov leftgov loggdppc logpop cg gdpgrowth inflation xr currentaccount kaopen logforex world_g_i vxo if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        36
                                                {txt}F(14, 20)         =  {res}    11.47
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.5618
                                                {txt}Root MSE          =    {res} 23.978

{txt}{ralign 80:(Std. Err. adjusted for {res:21} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      t{col 48}   P>|t|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.137053{col 28}{space 2} 1.439438{col 39}{space 1}   -2.18{col 48}{space 3}0.041{col 56}{space 4}-6.139669{col 69}{space 3}-.1344375
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-1.749785{col 28}{space 2} 15.53812{col 39}{space 1}   -0.11{col 48}{space 3}0.911{col 56}{space 4}-34.16174{col 69}{space 3} 30.66217
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 15.18582{col 28}{space 2} 16.19914{col 39}{space 1}    0.94{col 48}{space 3}0.360{col 56}{space 4}  -18.605{col 69}{space 3} 48.97663
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-19.72797{col 28}{space 2} 9.857731{col 39}{space 1}   -2.00{col 48}{space 3}0.059{col 56}{space 4}-40.29083{col 69}{space 3} .8348999
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}  1.46165{col 28}{space 2} 8.610785{col 39}{space 1}    0.17{col 48}{space 3}0.867{col 56}{space 4}-16.50013{col 69}{space 3} 19.42343
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .1155209{col 28}{space 2} .0997352{col 39}{space 1}    1.16{col 48}{space 3}0.260{col 56}{space 4}-.0925232{col 69}{space 3} .3235649
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.8363318{col 28}{space 2} 1.215477{col 39}{space 1}   -0.69{col 48}{space 3}0.499{col 56}{space 4}-3.371773{col 69}{space 3} 1.699109
{txt}{space 5}inflation {c |}{col 16}{res}{space 2} .0105725{col 28}{space 2} .0113081{col 39}{space 1}    0.93{col 48}{space 3}0.361{col 56}{space 4}-.0130158{col 69}{space 3} .0341608
{txt}{space 12}xr {c |}{col 16}{res}{space 2}-.0116197{col 28}{space 2} .0076302{col 39}{space 1}   -1.52{col 48}{space 3}0.143{col 56}{space 4}-.0275359{col 69}{space 3} .0042966
{txt}currentaccount {c |}{col 16}{res}{space 2} .0012118{col 28}{space 2}  .000425{col 39}{space 1}    2.85{col 48}{space 3}0.010{col 56}{space 4} .0003253{col 69}{space 3} .0020982
{txt}{space 8}kaopen {c |}{col 16}{res}{space 2} 5.200068{col 28}{space 2}  5.46129{col 39}{space 1}    0.95{col 48}{space 3}0.352{col 56}{space 4}-6.191984{col 69}{space 3} 16.59212
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-2.983472{col 28}{space 2} 6.319483{col 39}{space 1}   -0.47{col 48}{space 3}0.642{col 56}{space 4}-16.16568{col 69}{space 3} 10.19874
{txt}{space 5}world_g_i {c |}{col 16}{res}{space 2} 1.985237{col 28}{space 2}  3.09758{col 39}{space 1}    0.64{col 48}{space 3}0.529{col 56}{space 4}-4.476201{col 69}{space 3} 8.446676
{txt}{space 11}vxo {c |}{col 16}{res}{space 2}-1.792986{col 28}{space 2}  .871162{col 39}{space 1}   -2.06{col 48}{space 3}0.053{col 56}{space 4}-3.610198{col 69}{space 3} .0242264
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 212.6589{col 28}{space 2} 171.5468{col 39}{space 1}    1.24{col 48}{space 3}0.229{col 56}{space 4}-145.1815{col 69}{space 3} 570.4993
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA26, title((A26))
{txt}
{com}. estout MODELA23 MODELA24 MODELA25 MODELA26, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea7.tex", replace style(tex)
{res}{txt}(note: file tablea7.tex not found)
(output written to {browse  `"tablea7.tex"'})

{com}. 
. *Table A8
. logit crisis_extdebt persrank ndy ndy2 ndy3 i.year if year<2006 & democratic==1, cluster(ccode)

{txt}note: 1978.year != 0 predicts failure perfectly
      1978.year dropped and 21 obs not used

note: 1979.year != 0 predicts failure perfectly
      1979.year dropped and 23 obs not used

note: 1980.year != 0 predicts failure perfectly
      1980.year dropped and 23 obs not used

note: 2005.year omitted because of collinearity
{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-405.31234}  
Iteration 1:{space 3}log pseudolikelihood = {res:-342.60692}  
Iteration 2:{space 3}log pseudolikelihood = {res: -331.2882}  
Iteration 3:{space 3}log pseudolikelihood = {res:-331.08795}  
Iteration 4:{space 3}log pseudolikelihood = {res:-331.08789}  
Iteration 5:{space 3}log pseudolikelihood = {res:-331.08789}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}       957
{txt}{col 49}Wald chi2({res}28{txt}){col 67}= {res}   4912.59
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-331.08789{txt}{col 49}Pseudo R2{col 67}= {res}    0.1831

{txt}{ralign 80:(Std. Err. adjusted for {res:53} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}crisis_extdebt{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}persrank {c |}{col 16}{res}{space 2}-.3209178{col 28}{space 2} .1159665{col 39}{space 1}   -2.77{col 48}{space 3}0.006{col 56}{space 4}-.5482079{col 69}{space 3}-.0936277
{txt}{space 11}ndy {c |}{col 16}{res}{space 2}   .29998{col 28}{space 2} .2262308{col 39}{space 1}    1.33{col 48}{space 3}0.185{col 56}{space 4}-.1434242{col 69}{space 3} .7433841
{txt}{space 10}ndy2 {c |}{col 16}{res}{space 2}-.0225115{col 28}{space 2} .0198846{col 39}{space 1}   -1.13{col 48}{space 3}0.258{col 56}{space 4}-.0614847{col 69}{space 3} .0164616
{txt}{space 10}ndy3 {c |}{col 16}{res}{space 2} .0004773{col 28}{space 2} .0004409{col 39}{space 1}    1.08{col 48}{space 3}0.279{col 56}{space 4}-.0003868{col 69}{space 3} .0013413
{txt}{space 14} {c |}
{space 10}year {c |}
{space 9}1978  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (empty)
{space 9}1979  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (empty)
{space 9}1980  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (empty)
{space 9}1981  {c |}{col 16}{res}{space 2}-.8821081{col 28}{space 2} 1.365799{col 39}{space 1}   -0.65{col 48}{space 3}0.518{col 56}{space 4}-3.559026{col 69}{space 3}  1.79481
{txt}{space 9}1982  {c |}{col 16}{res}{space 2}-.9248278{col 28}{space 2} 1.341274{col 39}{space 1}   -0.69{col 48}{space 3}0.490{col 56}{space 4}-3.553676{col 69}{space 3}  1.70402
{txt}{space 9}1983  {c |}{col 16}{res}{space 2} .6925451{col 28}{space 2} .8026677{col 39}{space 1}    0.86{col 48}{space 3}0.388{col 56}{space 4}-.8806547{col 69}{space 3} 2.265745
{txt}{space 9}1984  {c |}{col 16}{res}{space 2} .8019534{col 28}{space 2} .8326432{col 39}{space 1}    0.96{col 48}{space 3}0.335{col 56}{space 4}-.8299972{col 69}{space 3} 2.433904
{txt}{space 9}1985  {c |}{col 16}{res}{space 2} .8236032{col 28}{space 2} .8373382{col 39}{space 1}    0.98{col 48}{space 3}0.325{col 56}{space 4}-.8175496{col 69}{space 3} 2.464756
{txt}{space 9}1986  {c |}{col 16}{res}{space 2} .8369312{col 28}{space 2} .8425097{col 39}{space 1}    0.99{col 48}{space 3}0.321{col 56}{space 4}-.8143574{col 69}{space 3}  2.48822
{txt}{space 9}1987  {c |}{col 16}{res}{space 2} 1.053926{col 28}{space 2} .8528632{col 39}{space 1}    1.24{col 48}{space 3}0.217{col 56}{space 4}-.6176553{col 69}{space 3} 2.725507
{txt}{space 9}1988  {c |}{col 16}{res}{space 2} .8341826{col 28}{space 2}  .834084{col 39}{space 1}    1.00{col 48}{space 3}0.317{col 56}{space 4}-.8005919{col 69}{space 3} 2.468957
{txt}{space 9}1989  {c |}{col 16}{res}{space 2} .9859561{col 28}{space 2}   .90773{col 39}{space 1}    1.09{col 48}{space 3}0.277{col 56}{space 4}-.7931619{col 69}{space 3} 2.765074
{txt}{space 9}1990  {c |}{col 16}{res}{space 2} 1.608484{col 28}{space 2} .8229989{col 39}{space 1}    1.95{col 48}{space 3}0.051{col 56}{space 4}-.0045638{col 69}{space 3} 3.221532
{txt}{space 9}1991  {c |}{col 16}{res}{space 2} 1.386805{col 28}{space 2} .8474288{col 39}{space 1}    1.64{col 48}{space 3}0.102{col 56}{space 4}-.2741253{col 69}{space 3} 3.047734
{txt}{space 9}1992  {c |}{col 16}{res}{space 2} 1.310476{col 28}{space 2} .7576329{col 39}{space 1}    1.73{col 48}{space 3}0.084{col 56}{space 4}-.1744568{col 69}{space 3}  2.79541
{txt}{space 9}1993  {c |}{col 16}{res}{space 2} 1.250269{col 28}{space 2} .7567645{col 39}{space 1}    1.65{col 48}{space 3}0.099{col 56}{space 4}-.2329622{col 69}{space 3}   2.7335
{txt}{space 9}1994  {c |}{col 16}{res}{space 2} 1.158174{col 28}{space 2} .8628747{col 39}{space 1}    1.34{col 48}{space 3}0.180{col 56}{space 4}-.5330296{col 69}{space 3} 2.849377
{txt}{space 9}1995  {c |}{col 16}{res}{space 2} .7784428{col 28}{space 2} .8240343{col 39}{space 1}    0.94{col 48}{space 3}0.345{col 56}{space 4}-.8366348{col 69}{space 3}  2.39352
{txt}{space 9}1996  {c |}{col 16}{res}{space 2} .3446178{col 28}{space 2} .7918921{col 39}{space 1}    0.44{col 48}{space 3}0.663{col 56}{space 4}-1.207462{col 69}{space 3} 1.896698
{txt}{space 9}1997  {c |}{col 16}{res}{space 2} .0769271{col 28}{space 2} .8207323{col 39}{space 1}    0.09{col 48}{space 3}0.925{col 56}{space 4}-1.531679{col 69}{space 3} 1.685533
{txt}{space 9}1998  {c |}{col 16}{res}{space 2}-.7382378{col 28}{space 2} .8895373{col 39}{space 1}   -0.83{col 48}{space 3}0.407{col 56}{space 4}-2.481699{col 69}{space 3} 1.005223
{txt}{space 9}1999  {c |}{col 16}{res}{space 2} -.045364{col 28}{space 2} .7922292{col 39}{space 1}   -0.06{col 48}{space 3}0.954{col 56}{space 4}-1.598105{col 69}{space 3} 1.507377
{txt}{space 9}2000  {c |}{col 16}{res}{space 2} .1778357{col 28}{space 2} .7629435{col 39}{space 1}    0.23{col 48}{space 3}0.816{col 56}{space 4}-1.317506{col 69}{space 3} 1.673177
{txt}{space 9}2001  {c |}{col 16}{res}{space 2}-.4561481{col 28}{space 2} .5599952{col 39}{space 1}   -0.81{col 48}{space 3}0.415{col 56}{space 4}-1.553719{col 69}{space 3} .6414225
{txt}{space 9}2002  {c |}{col 16}{res}{space 2} .3480633{col 28}{space 2} .5987506{col 39}{space 1}    0.58{col 48}{space 3}0.561{col 56}{space 4}-.8254664{col 69}{space 3} 1.521593
{txt}{space 9}2003  {c |}{col 16}{res}{space 2} .3425475{col 28}{space 2} .5309017{col 39}{space 1}    0.65{col 48}{space 3}0.519{col 56}{space 4}-.6980008{col 69}{space 3} 1.383096
{txt}{space 9}2004  {c |}{col 16}{res}{space 2} .0747321{col 28}{space 2} .3460808{col 39}{space 1}    0.22{col 48}{space 3}0.829{col 56}{space 4}-.6035737{col 69}{space 3}  .753038
{txt}{space 9}2005  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 14} {c |}
{space 9}_cons {c |}{col 16}{res}{space 2}-2.097455{col 28}{space 2} .7250726{col 39}{space 1}   -2.89{col 48}{space 3}0.004{col 56}{space 4}-3.518571{col 69}{space 3}-.6763389
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. est store MODELA27, title((A27))
{txt}
{com}. logit crisis_extdebt persrank loggdppc logpop leftgov rightgov logforex currentaccount gdpgrowth ndy ndy2 ndy3 i.year if year<2006 & democratic==1, cluster(ccode)

{txt}note: 1978.year != 0 predicts failure perfectly
      1978.year dropped and 19 obs not used

note: 1979.year != 0 predicts failure perfectly
      1979.year dropped and 21 obs not used

note: 1980.year != 0 predicts failure perfectly
      1980.year dropped and 21 obs not used

note: 2005.year omitted because of collinearity
{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-397.26356}  
Iteration 1:{space 3}log pseudolikelihood = {res:-240.54969}  
Iteration 2:{space 3}log pseudolikelihood = {res:-187.21645}  
Iteration 3:{space 3}log pseudolikelihood = {res:-170.91706}  
Iteration 4:{space 3}log pseudolikelihood = {res:-167.01757}  
Iteration 5:{space 3}log pseudolikelihood = {res:-167.00638}  
Iteration 6:{space 3}log pseudolikelihood = {res:-167.00637}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}       909
{txt}{col 49}Wald chi2({res}35{txt}){col 67}= {res}   3116.06
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-167.00637{txt}{col 49}Pseudo R2{col 67}= {res}    0.5796

{txt}{ralign 80:(Std. Err. adjusted for {res:51} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}crisis_extdebt{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}persrank {c |}{col 16}{res}{space 2}-.5194348{col 28}{space 2} .1279114{col 39}{space 1}   -4.06{col 48}{space 3}0.000{col 56}{space 4}-.7701365{col 69}{space 3} -.268733
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} -2.58381{col 28}{space 2} .5646833{col 39}{space 1}   -4.58{col 48}{space 3}0.000{col 56}{space 4}-3.690569{col 69}{space 3}-1.477052
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-.5822104{col 28}{space 2} .4376349{col 39}{space 1}   -1.33{col 48}{space 3}0.183{col 56}{space 4}-1.439959{col 69}{space 3} .2755383
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2}-2.404995{col 28}{space 2} .5785432{col 39}{space 1}   -4.16{col 48}{space 3}0.000{col 56}{space 4}-3.538919{col 69}{space 3}-1.271071
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-2.830581{col 28}{space 2} .6147103{col 39}{space 1}   -4.60{col 48}{space 3}0.000{col 56}{space 4}-4.035391{col 69}{space 3}-1.625771
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} .2730246{col 28}{space 2} .2986915{col 39}{space 1}    0.91{col 48}{space 3}0.361{col 56}{space 4}   -.3124{col 69}{space 3} .8584491
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000637{col 28}{space 2} .0000138{col 39}{space 1}    4.61{col 48}{space 3}0.000{col 56}{space 4} .0000367{col 69}{space 3} .0000908
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}  -.03001{col 28}{space 2} .0516725{col 39}{space 1}   -0.58{col 48}{space 3}0.561{col 56}{space 4}-.1312863{col 69}{space 3} .0712663
{txt}{space 11}ndy {c |}{col 16}{res}{space 2}  .839405{col 28}{space 2} .2931356{col 39}{space 1}    2.86{col 48}{space 3}0.004{col 56}{space 4} .2648698{col 69}{space 3}  1.41394
{txt}{space 10}ndy2 {c |}{col 16}{res}{space 2} -.052757{col 28}{space 2} .0237182{col 39}{space 1}   -2.22{col 48}{space 3}0.026{col 56}{space 4}-.0992438{col 69}{space 3}-.0062701
{txt}{space 10}ndy3 {c |}{col 16}{res}{space 2} .0010403{col 28}{space 2} .0005202{col 39}{space 1}    2.00{col 48}{space 3}0.046{col 56}{space 4} .0000207{col 69}{space 3} .0020598
{txt}{space 14} {c |}
{space 10}year {c |}
{space 9}1978  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (empty)
{space 9}1979  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (empty)
{space 9}1980  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (empty)
{space 9}1981  {c |}{col 16}{res}{space 2}-.6187748{col 28}{space 2} 1.381416{col 39}{space 1}   -0.45{col 48}{space 3}0.654{col 56}{space 4}  -3.3263{col 69}{space 3} 2.088751
{txt}{space 9}1982  {c |}{col 16}{res}{space 2} -.524791{col 28}{space 2} 1.055685{col 39}{space 1}   -0.50{col 48}{space 3}0.619{col 56}{space 4}-2.593896{col 69}{space 3} 1.544314
{txt}{space 9}1983  {c |}{col 16}{res}{space 2} 1.488218{col 28}{space 2} 1.097189{col 39}{space 1}    1.36{col 48}{space 3}0.175{col 56}{space 4}-.6622325{col 69}{space 3} 3.638668
{txt}{space 9}1984  {c |}{col 16}{res}{space 2} 1.692745{col 28}{space 2} .9794633{col 39}{space 1}    1.73{col 48}{space 3}0.084{col 56}{space 4}-.2269682{col 69}{space 3} 3.612457
{txt}{space 9}1985  {c |}{col 16}{res}{space 2}  1.87303{col 28}{space 2} .8793054{col 39}{space 1}    2.13{col 48}{space 3}0.033{col 56}{space 4} .1496231{col 69}{space 3} 3.596437
{txt}{space 9}1986  {c |}{col 16}{res}{space 2} 2.264458{col 28}{space 2} .9570936{col 39}{space 1}    2.37{col 48}{space 3}0.018{col 56}{space 4} .3885892{col 69}{space 3} 4.140327
{txt}{space 9}1987  {c |}{col 16}{res}{space 2} 2.865207{col 28}{space 2} 1.068325{col 39}{space 1}    2.68{col 48}{space 3}0.007{col 56}{space 4} .7713284{col 69}{space 3} 4.959085
{txt}{space 9}1988  {c |}{col 16}{res}{space 2} 2.243297{col 28}{space 2} .9380767{col 39}{space 1}    2.39{col 48}{space 3}0.017{col 56}{space 4} .4047007{col 69}{space 3} 4.081894
{txt}{space 9}1989  {c |}{col 16}{res}{space 2} 1.926473{col 28}{space 2} .8897167{col 39}{space 1}    2.17{col 48}{space 3}0.030{col 56}{space 4} .1826608{col 69}{space 3} 3.670286
{txt}{space 9}1990  {c |}{col 16}{res}{space 2} 3.640883{col 28}{space 2} .9041846{col 39}{space 1}    4.03{col 48}{space 3}0.000{col 56}{space 4} 1.868714{col 69}{space 3} 5.413053
{txt}{space 9}1991  {c |}{col 16}{res}{space 2} 3.031519{col 28}{space 2} .9170402{col 39}{space 1}    3.31{col 48}{space 3}0.001{col 56}{space 4} 1.234153{col 69}{space 3} 4.828885
{txt}{space 9}1992  {c |}{col 16}{res}{space 2} 2.373429{col 28}{space 2} .7722624{col 39}{space 1}    3.07{col 48}{space 3}0.002{col 56}{space 4} .8598227{col 69}{space 3} 3.887036
{txt}{space 9}1993  {c |}{col 16}{res}{space 2} 2.295793{col 28}{space 2} .7694667{col 39}{space 1}    2.98{col 48}{space 3}0.003{col 56}{space 4} .7876656{col 69}{space 3}  3.80392
{txt}{space 9}1994  {c |}{col 16}{res}{space 2} 2.257275{col 28}{space 2}  .999513{col 39}{space 1}    2.26{col 48}{space 3}0.024{col 56}{space 4}  .298265{col 69}{space 3} 4.216284
{txt}{space 9}1995  {c |}{col 16}{res}{space 2} 1.734011{col 28}{space 2} 1.053319{col 39}{space 1}    1.65{col 48}{space 3}0.100{col 56}{space 4}-.3304576{col 69}{space 3} 3.798479
{txt}{space 9}1996  {c |}{col 16}{res}{space 2} .2825203{col 28}{space 2} 1.221417{col 39}{space 1}    0.23{col 48}{space 3}0.817{col 56}{space 4}-2.111413{col 69}{space 3} 2.676454
{txt}{space 9}1997  {c |}{col 16}{res}{space 2}-.0868127{col 28}{space 2} .9660349{col 39}{space 1}   -0.09{col 48}{space 3}0.928{col 56}{space 4}-1.980206{col 69}{space 3} 1.806581
{txt}{space 9}1998  {c |}{col 16}{res}{space 2}-.8897926{col 28}{space 2} .8794468{col 39}{space 1}   -1.01{col 48}{space 3}0.312{col 56}{space 4}-2.613477{col 69}{space 3} .8338914
{txt}{space 9}1999  {c |}{col 16}{res}{space 2}-.5038915{col 28}{space 2} .9015855{col 39}{space 1}   -0.56{col 48}{space 3}0.576{col 56}{space 4}-2.270967{col 69}{space 3} 1.263184
{txt}{space 9}2000  {c |}{col 16}{res}{space 2}-.2065004{col 28}{space 2} .9206274{col 39}{space 1}   -0.22{col 48}{space 3}0.823{col 56}{space 4}-2.010897{col 69}{space 3} 1.597896
{txt}{space 9}2001  {c |}{col 16}{res}{space 2}-.9981262{col 28}{space 2} .6040389{col 39}{space 1}   -1.65{col 48}{space 3}0.098{col 56}{space 4}-2.182021{col 69}{space 3} .1857682
{txt}{space 9}2002  {c |}{col 16}{res}{space 2}-.2448031{col 28}{space 2}  .728895{col 39}{space 1}   -0.34{col 48}{space 3}0.737{col 56}{space 4}-1.673411{col 69}{space 3} 1.183805
{txt}{space 9}2003  {c |}{col 16}{res}{space 2} .0265554{col 28}{space 2} .5474073{col 39}{space 1}    0.05{col 48}{space 3}0.961{col 56}{space 4}-1.046343{col 69}{space 3} 1.099454
{txt}{space 9}2004  {c |}{col 16}{res}{space 2} .0417136{col 28}{space 2} .4262453{col 39}{space 1}    0.10{col 48}{space 3}0.922{col 56}{space 4}-.7937118{col 69}{space 3}  .877139
{txt}{space 9}2005  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 14} {c |}
{space 9}_cons {c |}{col 16}{res}{space 2} 25.38896{col 28}{space 2} 9.102928{col 39}{space 1}    2.79{col 48}{space 3}0.005{col 56}{space 4} 7.547551{col 69}{space 3} 43.23037
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{p 0 6 2}Note: 16 failures and 0 successes completely determined.{p_end}

{com}. est store MODELA28, title((A28))
{txt}
{com}. logit crisis_extdebt persrank loggdppc logpop leftgov rightgov logforex currentaccount gdpgrowth crisis_bank crisis_inflation crisis_currency ndy ndy2 ndy3 i.year if year<2006 & democratic==1, cluster(ccode)

{txt}note: 1978.year != 0 predicts failure perfectly
      1978.year dropped and 19 obs not used

note: 1979.year != 0 predicts failure perfectly
      1979.year dropped and 21 obs not used

note: 1980.year != 0 predicts failure perfectly
      1980.year dropped and 21 obs not used

note: 2005.year omitted because of collinearity
{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-397.26356}  
Iteration 1:{space 3}log pseudolikelihood = {res:-222.00446}  
Iteration 2:{space 3}log pseudolikelihood = {res:-166.28793}  
Iteration 3:{space 3}log pseudolikelihood = {res:-144.07258}  
Iteration 4:{space 3}log pseudolikelihood = {res:-142.15675}  
Iteration 5:{space 3}log pseudolikelihood = {res:-142.13626}  
Iteration 6:{space 3}log pseudolikelihood = {res:-142.13625}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}       909
{txt}{col 49}Wald chi2({res}38{txt}){col 67}= {res}  34830.80
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-142.13625{txt}{col 49}Pseudo R2{col 67}= {res}    0.6422

{txt}{ralign 82:(Std. Err. adjusted for {res:51} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}  crisis_extdebt{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}persrank {c |}{col 18}{res}{space 2}-.5092237{col 30}{space 2} .1144366{col 41}{space 1}   -4.45{col 50}{space 3}0.000{col 58}{space 4}-.7335154{col 71}{space 3} -.284932
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-2.741666{col 30}{space 2} .6368052{col 41}{space 1}   -4.31{col 50}{space 3}0.000{col 58}{space 4}-3.989782{col 71}{space 3}-1.493551
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-.8931286{col 30}{space 2} .4162969{col 41}{space 1}   -2.15{col 50}{space 3}0.032{col 58}{space 4}-1.709056{col 71}{space 3}-.0772017
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} -2.71948{col 30}{space 2} .6870569{col 41}{space 1}   -3.96{col 50}{space 3}0.000{col 58}{space 4}-4.066087{col 71}{space 3}-1.372873
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2}-2.974955{col 30}{space 2} .6589228{col 41}{space 1}   -4.51{col 50}{space 3}0.000{col 58}{space 4} -4.26642{col 71}{space 3} -1.68349
{txt}{space 8}logforex {c |}{col 18}{res}{space 2} .4713082{col 30}{space 2} .3046994{col 41}{space 1}    1.55{col 50}{space 3}0.122{col 58}{space 4}-.1258916{col 71}{space 3} 1.068508
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} .0000634{col 30}{space 2} .0000142{col 41}{space 1}    4.48{col 50}{space 3}0.000{col 58}{space 4} .0000357{col 71}{space 3} .0000912
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}  .092136{col 30}{space 2} .0443089{col 41}{space 1}    2.08{col 50}{space 3}0.038{col 58}{space 4} .0052921{col 71}{space 3} .1789798
{txt}{space 5}crisis_bank {c |}{col 18}{res}{space 2} 1.049266{col 30}{space 2} .4109876{col 41}{space 1}    2.55{col 50}{space 3}0.011{col 58}{space 4} .2437453{col 71}{space 3} 1.854787
{txt}crisis_inflation {c |}{col 18}{res}{space 2} 1.751434{col 30}{space 2} .6819692{col 41}{space 1}    2.57{col 50}{space 3}0.010{col 58}{space 4} .4147992{col 71}{space 3} 3.088069
{txt}{space 1}crisis_currency {c |}{col 18}{res}{space 2} .9438813{col 30}{space 2} .3807555{col 41}{space 1}    2.48{col 50}{space 3}0.013{col 58}{space 4} .1976144{col 71}{space 3} 1.690148
{txt}{space 13}ndy {c |}{col 18}{res}{space 2} .9523796{col 30}{space 2}  .399932{col 41}{space 1}    2.38{col 50}{space 3}0.017{col 58}{space 4} .1685273{col 71}{space 3} 1.736232
{txt}{space 12}ndy2 {c |}{col 18}{res}{space 2}-.0573883{col 30}{space 2} .0318248{col 41}{space 1}   -1.80{col 50}{space 3}0.071{col 58}{space 4}-.1197638{col 71}{space 3} .0049873
{txt}{space 12}ndy3 {c |}{col 18}{res}{space 2} .0011165{col 30}{space 2} .0006911{col 41}{space 1}    1.62{col 50}{space 3}0.106{col 58}{space 4}-.0002381{col 71}{space 3} .0024711
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1978  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1979  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1980  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1981  {c |}{col 18}{res}{space 2}-1.190449{col 30}{space 2}  1.28003{col 41}{space 1}   -0.93{col 50}{space 3}0.352{col 58}{space 4}-3.699262{col 71}{space 3} 1.318364
{txt}{space 11}1982  {c |}{col 18}{res}{space 2} -.892694{col 30}{space 2} 1.593301{col 41}{space 1}   -0.56{col 50}{space 3}0.575{col 58}{space 4}-4.015507{col 71}{space 3} 2.230119
{txt}{space 11}1983  {c |}{col 18}{res}{space 2}  1.08161{col 30}{space 2} 1.610617{col 41}{space 1}    0.67{col 50}{space 3}0.502{col 58}{space 4}-2.075142{col 71}{space 3} 4.238362
{txt}{space 11}1984  {c |}{col 18}{res}{space 2} 1.481695{col 30}{space 2}  1.25151{col 41}{space 1}    1.18{col 50}{space 3}0.236{col 58}{space 4} -.971219{col 71}{space 3} 3.934608
{txt}{space 11}1985  {c |}{col 18}{res}{space 2} 1.592184{col 30}{space 2} .9871208{col 41}{space 1}    1.61{col 50}{space 3}0.107{col 58}{space 4}-.3425367{col 71}{space 3} 3.526906
{txt}{space 11}1986  {c |}{col 18}{res}{space 2} 1.607804{col 30}{space 2} 1.022055{col 41}{space 1}    1.57{col 50}{space 3}0.116{col 58}{space 4}-.3953858{col 71}{space 3} 3.610995
{txt}{space 11}1987  {c |}{col 18}{res}{space 2} 2.294684{col 30}{space 2} 1.017546{col 41}{space 1}    2.26{col 50}{space 3}0.024{col 58}{space 4} .3003311{col 71}{space 3} 4.289037
{txt}{space 11}1988  {c |}{col 18}{res}{space 2}    1.776{col 30}{space 2} .9876956{col 41}{space 1}    1.80{col 50}{space 3}0.072{col 58}{space 4}-.1598476{col 71}{space 3} 3.711848
{txt}{space 11}1989  {c |}{col 18}{res}{space 2} 1.684404{col 30}{space 2} .9413028{col 41}{space 1}    1.79{col 50}{space 3}0.074{col 58}{space 4}-.1605158{col 71}{space 3} 3.529323
{txt}{space 11}1990  {c |}{col 18}{res}{space 2} 2.758437{col 30}{space 2} 1.012831{col 41}{space 1}    2.72{col 50}{space 3}0.006{col 58}{space 4} .7733249{col 71}{space 3} 4.743549
{txt}{space 11}1991  {c |}{col 18}{res}{space 2} 1.731452{col 30}{space 2} 1.074326{col 41}{space 1}    1.61{col 50}{space 3}0.107{col 58}{space 4}-.3741882{col 71}{space 3} 3.837093
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} 1.139424{col 30}{space 2} .8437698{col 41}{space 1}    1.35{col 50}{space 3}0.177{col 58}{space 4}-.5143348{col 71}{space 3} 2.793182
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 1.071392{col 30}{space 2} .8306114{col 41}{space 1}    1.29{col 50}{space 3}0.197{col 58}{space 4} -.556577{col 71}{space 3}  2.69936
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 1.041908{col 30}{space 2} 1.038009{col 41}{space 1}    1.00{col 50}{space 3}0.315{col 58}{space 4}-.9925529{col 71}{space 3} 3.076369
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} .5116098{col 30}{space 2} 1.177544{col 41}{space 1}    0.43{col 50}{space 3}0.664{col 58}{space 4}-1.796334{col 71}{space 3} 2.819554
{txt}{space 11}1996  {c |}{col 18}{res}{space 2}-.0807797{col 30}{space 2} 1.439783{col 41}{space 1}   -0.06{col 50}{space 3}0.955{col 58}{space 4}-2.902702{col 71}{space 3} 2.741143
{txt}{space 11}1997  {c |}{col 18}{res}{space 2}-.8498913{col 30}{space 2} .9768848{col 41}{space 1}   -0.87{col 50}{space 3}0.384{col 58}{space 4} -2.76455{col 71}{space 3} 1.064768
{txt}{space 11}1998  {c |}{col 18}{res}{space 2} -1.35878{col 30}{space 2} .8354793{col 41}{space 1}   -1.63{col 50}{space 3}0.104{col 58}{space 4}-2.996289{col 71}{space 3} .2787293
{txt}{space 11}1999  {c |}{col 18}{res}{space 2}-1.162232{col 30}{space 2} .8003645{col 41}{space 1}   -1.45{col 50}{space 3}0.146{col 58}{space 4}-2.730918{col 71}{space 3} .4064533
{txt}{space 11}2000  {c |}{col 18}{res}{space 2}-.9513034{col 30}{space 2} .7257373{col 41}{space 1}   -1.31{col 50}{space 3}0.190{col 58}{space 4}-2.373722{col 71}{space 3} .4711156
{txt}{space 11}2001  {c |}{col 18}{res}{space 2}-1.502307{col 30}{space 2} .5271947{col 41}{space 1}   -2.85{col 50}{space 3}0.004{col 58}{space 4} -2.53559{col 71}{space 3}-.4690246
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} -.552783{col 30}{space 2} .8051278{col 41}{space 1}   -0.69{col 50}{space 3}0.492{col 58}{space 4}-2.130804{col 71}{space 3} 1.025238
{txt}{space 11}2003  {c |}{col 18}{res}{space 2}-.0913144{col 30}{space 2} .6651653{col 41}{space 1}   -0.14{col 50}{space 3}0.891{col 58}{space 4}-1.395014{col 71}{space 3} 1.212386
{txt}{space 11}2004  {c |}{col 18}{res}{space 2}-.0897801{col 30}{space 2} .4724801{col 41}{space 1}   -0.19{col 50}{space 3}0.849{col 58}{space 4}-1.015824{col 71}{space 3} .8362639
{txt}{space 11}2005  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 28.59924{col 30}{space 2} 9.170787{col 41}{space 1}    3.12{col 50}{space 3}0.002{col 58}{space 4} 10.62483{col 71}{space 3} 46.57366
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{p 0 6 2}Note: 17 failures and 0 successes completely determined.{p_end}

{com}. est store MODELA29, title((A29))
{txt}
{com}. logit crisis_currency c.persrank loggdppc logpop leftgov rightgov logforex currentaccount gdpgrowth nccy nccy2 nccy3 i.year if year<2006 & democratic==1, cluster(ccode)

{txt}note: 1978.year != 0 predicts failure perfectly
      1978.year dropped and 19 obs not used

note: 2005.year omitted because of collinearity
{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-467.16032}  
Iteration 1:{space 3}log pseudolikelihood = {res:-379.88221}  
Iteration 2:{space 3}log pseudolikelihood = {res:-369.96105}  
Iteration 3:{space 3}log pseudolikelihood = {res:-369.56847}  
Iteration 4:{space 3}log pseudolikelihood = {res:-369.56329}  
Iteration 5:{space 3}log pseudolikelihood = {res:-369.56329}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}       951
{txt}{col 49}Wald chi2({res}37{txt}){col 67}= {res}    761.11
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-369.56329{txt}{col 49}Pseudo R2{col 67}= {res}    0.2089

{txt}{ralign 81:(Std. Err. adjusted for {res:51} clusters in ccode)}
{hline 16}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 17}{c |}{col 29}    Robust
{col 1}crisis_currency{col 17}{c |}      Coef.{col 29}   Std. Err.{col 41}      z{col 49}   P>|z|{col 57}     [95% Con{col 70}f. Interval]
{hline 16}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}persrank {c |}{col 17}{res}{space 2}-.0416939{col 29}{space 2} .0433825{col 40}{space 1}   -0.96{col 49}{space 3}0.337{col 57}{space 4}-.1267219{col 70}{space 3} .0433342
{txt}{space 7}loggdppc {c |}{col 17}{res}{space 2}-.0366622{col 29}{space 2} .2585993{col 40}{space 1}   -0.14{col 49}{space 3}0.887{col 57}{space 4}-.5435076{col 70}{space 3} .4701832
{txt}{space 9}logpop {c |}{col 17}{res}{space 2} .5034633{col 29}{space 2} .2210675{col 40}{space 1}    2.28{col 49}{space 3}0.023{col 57}{space 4}  .070179{col 70}{space 3} .9367476
{txt}{space 8}leftgov {c |}{col 17}{res}{space 2} -.207773{col 29}{space 2} .4232901{col 40}{space 1}   -0.49{col 49}{space 3}0.624{col 57}{space 4}-1.037406{col 70}{space 3} .6218603
{txt}{space 7}rightgov {c |}{col 17}{res}{space 2}-.1577632{col 29}{space 2} .3436502{col 40}{space 1}   -0.46{col 49}{space 3}0.646{col 57}{space 4}-.8313053{col 70}{space 3} .5157788
{txt}{space 7}logforex {c |}{col 17}{res}{space 2}-.6204928{col 29}{space 2} .2367514{col 40}{space 1}   -2.62{col 49}{space 3}0.009{col 57}{space 4}-1.084517{col 70}{space 3}-.1564686
{txt}{space 1}currentaccount {c |}{col 17}{res}{space 2}-2.64e-06{col 29}{space 2} 1.17e-06{col 40}{space 1}   -2.27{col 49}{space 3}0.023{col 57}{space 4}-4.93e-06{col 70}{space 3}-3.57e-07
{txt}{space 6}gdpgrowth {c |}{col 17}{res}{space 2}-.1571826{col 29}{space 2} .0376395{col 40}{space 1}   -4.18{col 49}{space 3}0.000{col 57}{space 4}-.2309547{col 70}{space 3}-.0834105
{txt}{space 11}nccy {c |}{col 17}{res}{space 2} .4230484{col 29}{space 2} .1343321{col 40}{space 1}    3.15{col 49}{space 3}0.002{col 57}{space 4} .1597623{col 70}{space 3} .6863345
{txt}{space 10}nccy2 {c |}{col 17}{res}{space 2}-.0415422{col 29}{space 2} .0131511{col 40}{space 1}   -3.16{col 49}{space 3}0.002{col 57}{space 4}-.0673179{col 70}{space 3}-.0157666
{txt}{space 10}nccy3 {c |}{col 17}{res}{space 2} .0010476{col 29}{space 2} .0003373{col 40}{space 1}    3.11{col 49}{space 3}0.002{col 57}{space 4} .0003865{col 70}{space 3} .0017087
{txt}{space 15} {c |}
{space 11}year {c |}
{space 10}1978  {c |}{col 17}{res}{space 2}        0{col 29}{txt}  (empty)
{space 10}1979  {c |}{col 17}{res}{space 2} -2.00477{col 29}{space 2} 1.328619{col 40}{space 1}   -1.51{col 49}{space 3}0.131{col 57}{space 4}-4.608814{col 70}{space 3} .5992747
{txt}{space 10}1980  {c |}{col 17}{res}{space 2}-2.150964{col 29}{space 2}  1.05461{col 40}{space 1}   -2.04{col 49}{space 3}0.041{col 57}{space 4}-4.217962{col 70}{space 3}-.0839664
{txt}{space 10}1981  {c |}{col 17}{res}{space 2}-.7414844{col 29}{space 2} .7851265{col 40}{space 1}   -0.94{col 49}{space 3}0.345{col 57}{space 4}-2.280304{col 70}{space 3} .7973352
{txt}{space 10}1982  {c |}{col 17}{res}{space 2}-.3748311{col 29}{space 2} .7730304{col 40}{space 1}   -0.48{col 49}{space 3}0.628{col 57}{space 4}-1.889943{col 70}{space 3} 1.140281
{txt}{space 10}1983  {c |}{col 17}{res}{space 2} -.238825{col 29}{space 2} .6817008{col 40}{space 1}   -0.35{col 49}{space 3}0.726{col 57}{space 4}-1.574934{col 70}{space 3} 1.097284
{txt}{space 10}1984  {c |}{col 17}{res}{space 2} .3913302{col 29}{space 2} .7481162{col 40}{space 1}    0.52{col 49}{space 3}0.601{col 57}{space 4}-1.074951{col 70}{space 3} 1.857611
{txt}{space 10}1985  {c |}{col 17}{res}{space 2} .1019067{col 29}{space 2}  .708389{col 40}{space 1}    0.14{col 49}{space 3}0.886{col 57}{space 4} -1.28651{col 70}{space 3} 1.490324
{txt}{space 10}1986  {c |}{col 17}{res}{space 2} .1631705{col 29}{space 2} .7968871{col 40}{space 1}    0.20{col 49}{space 3}0.838{col 57}{space 4}  -1.3987{col 70}{space 3} 1.725041
{txt}{space 10}1987  {c |}{col 17}{res}{space 2} .2234876{col 29}{space 2}  .752952{col 40}{space 1}    0.30{col 49}{space 3}0.767{col 57}{space 4}-1.252271{col 70}{space 3} 1.699246
{txt}{space 10}1988  {c |}{col 17}{res}{space 2}-.0854685{col 29}{space 2} .7391388{col 40}{space 1}   -0.12{col 49}{space 3}0.908{col 57}{space 4}-1.534154{col 70}{space 3} 1.363217
{txt}{space 10}1989  {c |}{col 17}{res}{space 2}-.0036331{col 29}{space 2} .7710743{col 40}{space 1}   -0.00{col 49}{space 3}0.996{col 57}{space 4}-1.514911{col 70}{space 3} 1.507645
{txt}{space 10}1990  {c |}{col 17}{res}{space 2} .3744257{col 29}{space 2} .7015564{col 40}{space 1}    0.53{col 49}{space 3}0.594{col 57}{space 4}  -1.0006{col 70}{space 3} 1.749451
{txt}{space 10}1991  {c |}{col 17}{res}{space 2} .4943206{col 29}{space 2}  .738934{col 40}{space 1}    0.67{col 49}{space 3}0.504{col 57}{space 4}-.9539634{col 70}{space 3} 1.942605
{txt}{space 10}1992  {c |}{col 17}{res}{space 2}  .651709{col 29}{space 2} .6215092{col 40}{space 1}    1.05{col 49}{space 3}0.294{col 57}{space 4}-.5664267{col 70}{space 3} 1.869845
{txt}{space 10}1993  {c |}{col 17}{res}{space 2} .8636694{col 29}{space 2} .6533447{col 40}{space 1}    1.32{col 49}{space 3}0.186{col 57}{space 4}-.4168627{col 70}{space 3} 2.144202
{txt}{space 10}1994  {c |}{col 17}{res}{space 2} -.444466{col 29}{space 2} .7549591{col 40}{space 1}   -0.59{col 49}{space 3}0.556{col 57}{space 4}-1.924159{col 70}{space 3} 1.035227
{txt}{space 10}1995  {c |}{col 17}{res}{space 2} .5650212{col 29}{space 2} .6893382{col 40}{space 1}    0.82{col 49}{space 3}0.412{col 57}{space 4}-.7860569{col 70}{space 3} 1.916099
{txt}{space 10}1996  {c |}{col 17}{res}{space 2} .2016214{col 29}{space 2}  .657602{col 40}{space 1}    0.31{col 49}{space 3}0.759{col 57}{space 4}-1.087255{col 70}{space 3} 1.490498
{txt}{space 10}1997  {c |}{col 17}{res}{space 2}  .760864{col 29}{space 2}  .637438{col 40}{space 1}    1.19{col 49}{space 3}0.233{col 57}{space 4}-.4884915{col 70}{space 3} 2.010219
{txt}{space 10}1998  {c |}{col 17}{res}{space 2}-.1689843{col 29}{space 2} .6597804{col 40}{space 1}   -0.26{col 49}{space 3}0.798{col 57}{space 4} -1.46213{col 70}{space 3} 1.124161
{txt}{space 10}1999  {c |}{col 17}{res}{space 2} .0851286{col 29}{space 2} .6080266{col 40}{space 1}    0.14{col 49}{space 3}0.889{col 57}{space 4}-1.106582{col 70}{space 3} 1.276839
{txt}{space 10}2000  {c |}{col 17}{res}{space 2} .1436464{col 29}{space 2} .6282822{col 40}{space 1}    0.23{col 49}{space 3}0.819{col 57}{space 4}-1.087764{col 70}{space 3} 1.375057
{txt}{space 10}2001  {c |}{col 17}{res}{space 2}-.6365045{col 29}{space 2} .6447404{col 40}{space 1}   -0.99{col 49}{space 3}0.324{col 57}{space 4}-1.900172{col 70}{space 3} .6271634
{txt}{space 10}2002  {c |}{col 17}{res}{space 2}-.2941158{col 29}{space 2} .6264837{col 40}{space 1}   -0.47{col 49}{space 3}0.639{col 57}{space 4}-1.522001{col 70}{space 3} .9337698
{txt}{space 10}2003  {c |}{col 17}{res}{space 2}-1.815197{col 29}{space 2} .8263529{col 40}{space 1}   -2.20{col 49}{space 3}0.028{col 57}{space 4}-3.434819{col 70}{space 3}-.1955752
{txt}{space 10}2004  {c |}{col 17}{res}{space 2}-2.209499{col 29}{space 2}  1.13359{col 40}{space 1}   -1.95{col 49}{space 3}0.051{col 57}{space 4}-4.431294{col 70}{space 3} .0122961
{txt}{space 10}2005  {c |}{col 17}{res}{space 2}        0{col 29}{txt}  (omitted)
{space 15} {c |}
{space 10}_cons {c |}{col 17}{res}{space 2}-4.377046{col 29}{space 2} 3.461696{col 40}{space 1}   -1.26{col 49}{space 3}0.206{col 57}{space 4}-11.16185{col 70}{space 3} 2.407754
{txt}{hline 16}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. est store MODELA30, title((A30))
{txt}
{com}. logit crisis_bank c.persrank loggdppc logpop leftgov rightgov logforex currentaccount gdpgrowth nbcy nbcy2 nbcy3 i.year if year<2006 & democratic==1, cluster(ccode)

{txt}note: 2004.year != 0 predicts failure perfectly
      2004.year dropped and 49 obs not used

note: 2005.year != 0 predicts failure perfectly
      2005.year dropped and 49 obs not used

{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-430.18139}  
Iteration 1:{space 3}log pseudolikelihood = {res:-324.97193}  
Iteration 2:{space 3}log pseudolikelihood = {res: -310.1465}  
Iteration 3:{space 3}log pseudolikelihood = {res:  -309.534}  
Iteration 4:{space 3}log pseudolikelihood = {res:-309.53321}  
Iteration 5:{space 3}log pseudolikelihood = {res:-309.53321}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}       872
{txt}{col 49}Wald chi2({res}36{txt}){col 67}= {res}    480.59
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-309.53321{txt}{col 49}Pseudo R2{col 67}= {res}    0.2805

{txt}{ralign 80:(Std. Err. adjusted for {res:51} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}   crisis_bank{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}persrank {c |}{col 16}{res}{space 2} -.072897{col 28}{space 2} .0621786{col 39}{space 1}   -1.17{col 48}{space 3}0.241{col 56}{space 4}-.1947648{col 69}{space 3} .0489707
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-.4930267{col 28}{space 2} .3170408{col 39}{space 1}   -1.56{col 48}{space 3}0.120{col 56}{space 4}-1.114415{col 69}{space 3} .1283618
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} .3162031{col 28}{space 2} .3176676{col 39}{space 1}    1.00{col 48}{space 3}0.320{col 56}{space 4} -.306414{col 69}{space 3} .9388202
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2}-.7513099{col 28}{space 2} .4949693{col 39}{space 1}   -1.52{col 48}{space 3}0.129{col 56}{space 4}-1.721432{col 69}{space 3} .2188121
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-.3482488{col 28}{space 2} .4099496{col 39}{space 1}   -0.85{col 48}{space 3}0.396{col 56}{space 4}-1.151735{col 69}{space 3} .4552377
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} .2285306{col 28}{space 2} .3700789{col 39}{space 1}    0.62{col 48}{space 3}0.537{col 56}{space 4}-.4968108{col 69}{space 3} .9538719
{txt}currentaccount {c |}{col 16}{res}{space 2}-2.62e-07{col 28}{space 2} 2.74e-06{col 39}{space 1}   -0.10{col 48}{space 3}0.924{col 56}{space 4}-5.64e-06{col 69}{space 3} 5.11e-06
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.2253718{col 28}{space 2} .0439199{col 39}{space 1}   -5.13{col 48}{space 3}0.000{col 56}{space 4}-.3114532{col 69}{space 3}-.1392903
{txt}{space 10}nbcy {c |}{col 16}{res}{space 2} .3774402{col 28}{space 2} .2917299{col 39}{space 1}    1.29{col 48}{space 3}0.196{col 56}{space 4}-.1943399{col 69}{space 3} .9492203
{txt}{space 9}nbcy2 {c |}{col 16}{res}{space 2} -.005259{col 28}{space 2} .0248424{col 39}{space 1}   -0.21{col 48}{space 3}0.832{col 56}{space 4}-.0539492{col 69}{space 3} .0434312
{txt}{space 9}nbcy3 {c |}{col 16}{res}{space 2}-.0001864{col 28}{space 2} .0005968{col 39}{space 1}   -0.31{col 48}{space 3}0.755{col 56}{space 4}-.0013561{col 69}{space 3} .0009832
{txt}{space 14} {c |}
{space 10}year {c |}
{space 9}1979  {c |}{col 16}{res}{space 2}-1.168077{col 28}{space 2}  .709939{col 39}{space 1}   -1.65{col 48}{space 3}0.100{col 56}{space 4}-2.559532{col 69}{space 3} .2233777
{txt}{space 9}1980  {c |}{col 16}{res}{space 2}-1.355824{col 28}{space 2} .4716586{col 39}{space 1}   -2.87{col 48}{space 3}0.004{col 56}{space 4}-2.280258{col 69}{space 3}-.4313905
{txt}{space 9}1981  {c |}{col 16}{res}{space 2}-.9084636{col 28}{space 2} 1.107301{col 39}{space 1}   -0.82{col 48}{space 3}0.412{col 56}{space 4}-3.078735{col 69}{space 3} 1.261807
{txt}{space 9}1982  {c |}{col 16}{res}{space 2}-2.261356{col 28}{space 2} .6317967{col 39}{space 1}   -3.58{col 48}{space 3}0.000{col 56}{space 4}-3.499655{col 69}{space 3}-1.023057
{txt}{space 9}1983  {c |}{col 16}{res}{space 2}-1.555113{col 28}{space 2} 1.180645{col 39}{space 1}   -1.32{col 48}{space 3}0.188{col 56}{space 4}-3.869135{col 69}{space 3} .7589086
{txt}{space 9}1984  {c |}{col 16}{res}{space 2}-.5712141{col 28}{space 2} 1.234518{col 39}{space 1}   -0.46{col 48}{space 3}0.644{col 56}{space 4}-2.990825{col 69}{space 3} 1.848396
{txt}{space 9}1985  {c |}{col 16}{res}{space 2}-1.010635{col 28}{space 2} 1.319684{col 39}{space 1}   -0.77{col 48}{space 3}0.444{col 56}{space 4}-3.597168{col 69}{space 3} 1.575898
{txt}{space 9}1986  {c |}{col 16}{res}{space 2}-.9444453{col 28}{space 2} 1.140288{col 39}{space 1}   -0.83{col 48}{space 3}0.408{col 56}{space 4}-3.179369{col 69}{space 3} 1.290478
{txt}{space 9}1987  {c |}{col 16}{res}{space 2}-.2805679{col 28}{space 2} 1.390092{col 39}{space 1}   -0.20{col 48}{space 3}0.840{col 56}{space 4}-3.005097{col 69}{space 3} 2.443962
{txt}{space 9}1988  {c |}{col 16}{res}{space 2}-.8124031{col 28}{space 2} 1.426815{col 39}{space 1}   -0.57{col 48}{space 3}0.569{col 56}{space 4}-3.608908{col 69}{space 3} 1.984102
{txt}{space 9}1989  {c |}{col 16}{res}{space 2}-.7813544{col 28}{space 2} 1.439054{col 39}{space 1}   -0.54{col 48}{space 3}0.587{col 56}{space 4}-3.601848{col 69}{space 3} 2.039139
{txt}{space 9}1990  {c |}{col 16}{res}{space 2} -.536019{col 28}{space 2} 1.312982{col 39}{space 1}   -0.41{col 48}{space 3}0.683{col 56}{space 4}-3.109417{col 69}{space 3} 2.037379
{txt}{space 9}1991  {c |}{col 16}{res}{space 2}-.6686043{col 28}{space 2} 1.300173{col 39}{space 1}   -0.51{col 48}{space 3}0.607{col 56}{space 4}-3.216897{col 69}{space 3} 1.879689
{txt}{space 9}1992  {c |}{col 16}{res}{space 2}-.8008952{col 28}{space 2} 1.295958{col 39}{space 1}   -0.62{col 48}{space 3}0.537{col 56}{space 4}-3.340926{col 69}{space 3} 1.739136
{txt}{space 9}1993  {c |}{col 16}{res}{space 2}-.8214485{col 28}{space 2} 1.173648{col 39}{space 1}   -0.70{col 48}{space 3}0.484{col 56}{space 4}-3.121757{col 69}{space 3} 1.478859
{txt}{space 9}1994  {c |}{col 16}{res}{space 2}-.0922621{col 28}{space 2} 1.297713{col 39}{space 1}   -0.07{col 48}{space 3}0.943{col 56}{space 4}-2.635733{col 69}{space 3} 2.451209
{txt}{space 9}1995  {c |}{col 16}{res}{space 2} .2568542{col 28}{space 2} 1.340244{col 39}{space 1}    0.19{col 48}{space 3}0.848{col 56}{space 4}-2.369976{col 69}{space 3} 2.883684
{txt}{space 9}1996  {c |}{col 16}{res}{space 2}-.3967036{col 28}{space 2} 1.383944{col 39}{space 1}   -0.29{col 48}{space 3}0.774{col 56}{space 4}-3.109184{col 69}{space 3} 2.315777
{txt}{space 9}1997  {c |}{col 16}{res}{space 2}-.8932728{col 28}{space 2} 1.428686{col 39}{space 1}   -0.63{col 48}{space 3}0.532{col 56}{space 4}-3.693445{col 69}{space 3} 1.906899
{txt}{space 9}1998  {c |}{col 16}{res}{space 2} -1.01059{col 28}{space 2} 1.441066{col 39}{space 1}   -0.70{col 48}{space 3}0.483{col 56}{space 4}-3.835027{col 69}{space 3} 1.813847
{txt}{space 9}1999  {c |}{col 16}{res}{space 2}-1.019338{col 28}{space 2} 1.510025{col 39}{space 1}   -0.68{col 48}{space 3}0.500{col 56}{space 4}-3.978933{col 69}{space 3} 1.940257
{txt}{space 9}2000  {c |}{col 16}{res}{space 2}-1.090139{col 28}{space 2} 1.507391{col 39}{space 1}   -0.72{col 48}{space 3}0.470{col 56}{space 4} -4.04457{col 69}{space 3} 1.864293
{txt}{space 9}2001  {c |}{col 16}{res}{space 2}-1.125581{col 28}{space 2} 1.513519{col 39}{space 1}   -0.74{col 48}{space 3}0.457{col 56}{space 4}-4.092023{col 69}{space 3} 1.840862
{txt}{space 9}2002  {c |}{col 16}{res}{space 2}-1.454148{col 28}{space 2} 1.690687{col 39}{space 1}   -0.86{col 48}{space 3}0.390{col 56}{space 4}-4.767833{col 69}{space 3} 1.859538
{txt}{space 9}2003  {c |}{col 16}{res}{space 2}-2.575149{col 28}{space 2} 1.840926{col 39}{space 1}   -1.40{col 48}{space 3}0.162{col 56}{space 4}-6.183299{col 69}{space 3}    1.033
{txt}{space 9}2004  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (empty)
{space 9}2005  {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (empty)
{space 14} {c |}
{space 9}_cons {c |}{col 16}{res}{space 2}-5.054527{col 28}{space 2} 5.266452{col 39}{space 1}   -0.96{col 48}{space 3}0.337{col 56}{space 4}-15.37658{col 69}{space 3} 5.267529
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. est store MODELA31, title((A31))
{txt}
{com}. logit crisis_inflation c.persrank loggdppc logpop leftgov rightgov logforex currentaccount gdpgrowth nicy nicy2 nicy3 i.year if year<2006 & democratic==1, cluster(ccode)

{txt}note: 1978.year != 0 predicts failure perfectly
      1978.year dropped and 19 obs not used

note: 1979.year != 0 predicts failure perfectly
      1979.year dropped and 21 obs not used

note: 2005.year != 0 predicts failure perfectly
      2005.year dropped and 49 obs not used

note: 2004.year omitted because of collinearity
{res}{txt}Iteration 0:{space 3}log pseudolikelihood = {res: -382.4036}  
Iteration 1:{space 3}log pseudolikelihood = {res:-258.81542}  
Iteration 2:{space 3}log pseudolikelihood = {res: -226.5079}  
Iteration 3:{space 3}log pseudolikelihood = {res:-222.58453}  
Iteration 4:{space 3}log pseudolikelihood = {res:-222.42327}  
Iteration 5:{space 3}log pseudolikelihood = {res:-222.42198}  
Iteration 6:{space 3}log pseudolikelihood = {res:-222.42198}  
{res}
{txt}Logistic regression{col 49}Number of obs{col 67}= {res}       881
{txt}{col 49}Wald chi2({res}35{txt}){col 67}= {res}    745.08
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000
{txt}Log pseudolikelihood = {res}-222.42198{txt}{col 49}Pseudo R2{col 67}= {res}    0.4184

{txt}{ralign 82:(Std. Err. adjusted for {res:51} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}crisis_inflation{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}persrank {c |}{col 18}{res}{space 2}-.1898236{col 30}{space 2}  .101438{col 41}{space 1}   -1.87{col 50}{space 3}0.061{col 58}{space 4}-.3886384{col 71}{space 3} .0089911
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-1.822476{col 30}{space 2} .3185157{col 41}{space 1}   -5.72{col 50}{space 3}0.000{col 58}{space 4}-2.446755{col 71}{space 3}-1.198197
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-.5104136{col 30}{space 2} .3413668{col 41}{space 1}   -1.50{col 50}{space 3}0.135{col 58}{space 4} -1.17948{col 71}{space 3}  .158653
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2}-1.356889{col 30}{space 2} .6389425{col 41}{space 1}   -2.12{col 50}{space 3}0.034{col 58}{space 4}-2.609193{col 71}{space 3}-.1045847
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2}-1.247731{col 30}{space 2} .5638559{col 41}{space 1}   -2.21{col 50}{space 3}0.027{col 58}{space 4}-2.352868{col 71}{space 3}-.1425936
{txt}{space 8}logforex {c |}{col 18}{res}{space 2}  .359066{col 30}{space 2} .2525178{col 41}{space 1}    1.42{col 50}{space 3}0.155{col 58}{space 4}-.1358599{col 71}{space 3} .8539919
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} .0000219{col 30}{space 2} .0000141{col 41}{space 1}    1.56{col 50}{space 3}0.119{col 58}{space 4}-5.62e-06{col 71}{space 3} .0000495
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.1890509{col 30}{space 2} .0573426{col 41}{space 1}   -3.30{col 50}{space 3}0.001{col 58}{space 4}-.3014402{col 71}{space 3}-.0766615
{txt}{space 12}nicy {c |}{col 18}{res}{space 2} 1.005215{col 30}{space 2} .3261601{col 41}{space 1}    3.08{col 50}{space 3}0.002{col 58}{space 4}  .365953{col 71}{space 3} 1.644477
{txt}{space 11}nicy2 {c |}{col 18}{res}{space 2} -.068482{col 30}{space 2} .0266309{col 41}{space 1}   -2.57{col 50}{space 3}0.010{col 58}{space 4}-.1206775{col 71}{space 3}-.0162864
{txt}{space 11}nicy3 {c |}{col 18}{res}{space 2} .0014937{col 30}{space 2} .0006512{col 41}{space 1}    2.29{col 50}{space 3}0.022{col 58}{space 4} .0002174{col 71}{space 3}   .00277
{txt}{space 16} {c |}
{space 12}year {c |}
{space 11}1978  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1979  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 11}1980  {c |}{col 18}{res}{space 2} 3.187045{col 30}{space 2}  1.70626{col 41}{space 1}    1.87{col 50}{space 3}0.062{col 58}{space 4}-.1571635{col 71}{space 3} 6.531254
{txt}{space 11}1981  {c |}{col 18}{res}{space 2} 2.904461{col 30}{space 2} 1.839933{col 41}{space 1}    1.58{col 50}{space 3}0.114{col 58}{space 4} -.701741{col 71}{space 3} 6.510663
{txt}{space 11}1982  {c |}{col 18}{res}{space 2} 2.227149{col 30}{space 2} 1.800946{col 41}{space 1}    1.24{col 50}{space 3}0.216{col 58}{space 4}-1.302641{col 71}{space 3} 5.756938
{txt}{space 11}1983  {c |}{col 18}{res}{space 2} 3.282912{col 30}{space 2}  1.83399{col 41}{space 1}    1.79{col 50}{space 3}0.073{col 58}{space 4}-.3116416{col 71}{space 3} 6.877466
{txt}{space 11}1984  {c |}{col 18}{res}{space 2} 2.649035{col 30}{space 2} 1.641395{col 41}{space 1}    1.61{col 50}{space 3}0.107{col 58}{space 4}  -.56804{col 71}{space 3}  5.86611
{txt}{space 11}1985  {c |}{col 18}{res}{space 2}  3.06058{col 30}{space 2} 1.746729{col 41}{space 1}    1.75{col 50}{space 3}0.080{col 58}{space 4}-.3629456{col 71}{space 3} 6.484106
{txt}{space 11}1986  {c |}{col 18}{res}{space 2} 3.936651{col 30}{space 2} 1.654238{col 41}{space 1}    2.38{col 50}{space 3}0.017{col 58}{space 4} .6944053{col 71}{space 3} 7.178897
{txt}{space 11}1987  {c |}{col 18}{res}{space 2} 3.791945{col 30}{space 2} 1.545693{col 41}{space 1}    2.45{col 50}{space 3}0.014{col 58}{space 4} .7624424{col 71}{space 3} 6.821447
{txt}{space 11}1988  {c |}{col 18}{res}{space 2} 3.856207{col 30}{space 2} 1.469952{col 41}{space 1}    2.62{col 50}{space 3}0.009{col 58}{space 4} .9751536{col 71}{space 3} 6.737261
{txt}{space 11}1989  {c |}{col 18}{res}{space 2}  2.44257{col 30}{space 2} 1.580935{col 41}{space 1}    1.55{col 50}{space 3}0.122{col 58}{space 4}-.6560048{col 71}{space 3} 5.541145
{txt}{space 11}1990  {c |}{col 18}{res}{space 2} 4.086813{col 30}{space 2} 1.570263{col 41}{space 1}    2.60{col 50}{space 3}0.009{col 58}{space 4} 1.009154{col 71}{space 3} 7.164471
{txt}{space 11}1991  {c |}{col 18}{res}{space 2} 4.388548{col 30}{space 2} 1.565468{col 41}{space 1}    2.80{col 50}{space 3}0.005{col 58}{space 4} 1.320288{col 71}{space 3} 7.456808
{txt}{space 11}1992  {c |}{col 18}{res}{space 2} 4.325736{col 30}{space 2}  1.61689{col 41}{space 1}    2.68{col 50}{space 3}0.007{col 58}{space 4} 1.156691{col 71}{space 3} 7.494782
{txt}{space 11}1993  {c |}{col 18}{res}{space 2} 3.828018{col 30}{space 2} 1.572689{col 41}{space 1}    2.43{col 50}{space 3}0.015{col 58}{space 4} .7456037{col 71}{space 3} 6.910433
{txt}{space 11}1994  {c |}{col 18}{res}{space 2} 3.830421{col 30}{space 2} 1.647415{col 41}{space 1}    2.33{col 50}{space 3}0.020{col 58}{space 4} .6015475{col 71}{space 3} 7.059294
{txt}{space 11}1995  {c |}{col 18}{res}{space 2} 4.285453{col 30}{space 2} 1.608681{col 41}{space 1}    2.66{col 50}{space 3}0.008{col 58}{space 4} 1.132496{col 71}{space 3}  7.43841
{txt}{space 11}1996  {c |}{col 18}{res}{space 2} 3.177585{col 30}{space 2} 1.526262{col 41}{space 1}    2.08{col 50}{space 3}0.037{col 58}{space 4} .1861666{col 71}{space 3} 6.169003
{txt}{space 11}1997  {c |}{col 18}{res}{space 2} 2.475994{col 30}{space 2} 1.292245{col 41}{space 1}    1.92{col 50}{space 3}0.055{col 58}{space 4}-.0567602{col 71}{space 3} 5.008748
{txt}{space 11}1998  {c |}{col 18}{res}{space 2} 1.613548{col 30}{space 2} 1.275162{col 41}{space 1}    1.27{col 50}{space 3}0.206{col 58}{space 4}-.8857231{col 71}{space 3} 4.112818
{txt}{space 11}1999  {c |}{col 18}{res}{space 2} 1.107261{col 30}{space 2} 1.222472{col 41}{space 1}    0.91{col 50}{space 3}0.365{col 58}{space 4}-1.288739{col 71}{space 3} 3.503261
{txt}{space 11}2000  {c |}{col 18}{res}{space 2} 1.131949{col 30}{space 2} 1.374568{col 41}{space 1}    0.82{col 50}{space 3}0.410{col 58}{space 4}-1.562154{col 71}{space 3} 3.826053
{txt}{space 11}2001  {c |}{col 18}{res}{space 2} .8398017{col 30}{space 2} 1.352963{col 41}{space 1}    0.62{col 50}{space 3}0.535{col 58}{space 4}-1.811958{col 71}{space 3} 3.491561
{txt}{space 11}2002  {c |}{col 18}{res}{space 2} .0641972{col 30}{space 2} 1.069444{col 41}{space 1}    0.06{col 50}{space 3}0.952{col 58}{space 4}-2.031874{col 71}{space 3} 2.160269
{txt}{space 11}2003  {c |}{col 18}{res}{space 2} .4067883{col 30}{space 2} .5886147{col 41}{space 1}    0.69{col 50}{space 3}0.490{col 58}{space 4}-.7468754{col 71}{space 3} 1.560452
{txt}{space 11}2004  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 11}2005  {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (empty)
{space 16} {c |}
{space 11}_cons {c |}{col 18}{res}{space 2} 14.06975{col 30}{space 2}  5.82553{col 41}{space 1}    2.42{col 50}{space 3}0.016{col 58}{space 4} 2.651919{col 71}{space 3} 25.48758
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{p 0 6 2}Note: 3 failures and 0 successes completely determined.{p_end}

{com}. est store MODELA32, title((A32))
{txt}
{com}. estout MODELA27 MODELA28 MODELA29 MODELA30 MODELA31 MODELA32, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(N N_g r2, fmt(0 0 3) label(Observations Countries R$^2$)) label,  using "tablea8.tex", replace style(tex)
{res}{txt}(note: file tablea8.tex not found)
(output written to {browse  `"tablea8.tex"'})

{com}. 
. *Table A9
. reg haircut persrank rightgov leftgov loggdppc logpop bankingcrisis_lv if democratic==1, cluster(ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}F(6, 23)          =  {res}     2.13
                                                {txt}Prob > F          = {res}    0.0889
                                                {txt}R-squared         = {res}    0.3132
                                                {txt}Root MSE          =    {res} 25.399

{txt}{ralign 82:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}persrank {c |}{col 18}{res}{space 2}-2.836873{col 30}{space 2} 1.202174{col 41}{space 1}   -2.36{col 50}{space 3}0.027{col 58}{space 4}-5.323759{col 71}{space 3}-.3499869
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2} 5.987088{col 30}{space 2} 12.46109{col 41}{space 1}    0.48{col 50}{space 3}0.635{col 58}{space 4}-19.79064{col 71}{space 3} 31.76481
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} 18.65532{col 30}{space 2} 14.84361{col 41}{space 1}    1.26{col 50}{space 3}0.221{col 58}{space 4}-12.05102{col 71}{space 3} 49.36166
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-13.15515{col 30}{space 2} 7.148993{col 41}{space 1}   -1.84{col 50}{space 3}0.079{col 58}{space 4}-27.94397{col 71}{space 3} 1.633668
{txt}{space 10}logpop {c |}{col 18}{res}{space 2} 1.213987{col 30}{space 2} 4.274829{col 41}{space 1}    0.28{col 50}{space 3}0.779{col 58}{space 4}-7.629171{col 71}{space 3} 10.05714
{txt}bankingcrisis_lv {c |}{col 18}{res}{space 2}-.4231428{col 30}{space 2} 12.05594{col 41}{space 1}   -0.04{col 50}{space 3}0.972{col 58}{space 4}-25.36275{col 71}{space 3} 24.51647
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}  118.084{col 30}{space 2} 95.03714{col 41}{space 1}    1.24{col 50}{space 3}0.227{col 58}{space 4}-78.51535{col 71}{space 3} 314.6833
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA33, title((A33))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop bankingcrisis_lv if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-441.36887}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-438.53652}  
Iteration 2:{space 3}log pseudolikelihood = {res:-438.26818}  
Iteration 3:{space 3}log pseudolikelihood = {res:-437.82447}  
Iteration 4:{space 3}log pseudolikelihood = {res:-437.81267}  
Iteration 5:{space 3}log pseudolikelihood = {res:-437.81266}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,402
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    34.75
{txt}Log pseudolikelihood = {res}-437.8127                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 82:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut          {txt}{c |}
{space 8}persrank {c |}{col 18}{res}{space 2}-3.507596{col 30}{space 2} .9998233{col 41}{space 1}   -3.51{col 50}{space 3}0.000{col 58}{space 4}-5.467214{col 71}{space 3}-1.547979
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2} 4.111863{col 30}{space 2} 10.21279{col 41}{space 1}    0.40{col 50}{space 3}0.687{col 58}{space 4}-15.90484{col 71}{space 3} 24.12856
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} 12.24594{col 30}{space 2} 11.86482{col 41}{space 1}    1.03{col 50}{space 3}0.302{col 58}{space 4}-11.00868{col 71}{space 3} 35.50055
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2} -20.0257{col 30}{space 2} 5.814196{col 41}{space 1}   -3.44{col 50}{space 3}0.001{col 58}{space 4}-31.42131{col 71}{space 3} -8.63008
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-1.383982{col 30}{space 2} 3.912667{col 41}{space 1}   -0.35{col 50}{space 3}0.724{col 58}{space 4}-9.052668{col 71}{space 3} 6.284705
{txt}bankingcrisis_lv {c |}{col 18}{res}{space 2}-5.189798{col 30}{space 2} 7.888973{col 41}{space 1}   -0.66{col 50}{space 3}0.511{col 58}{space 4} -20.6519{col 71}{space 3} 10.27231
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 273.6001{col 30}{space 2}  96.8182{col 41}{space 1}    2.83{col 50}{space 3}0.005{col 58}{space 4} 83.83989{col 71}{space 3} 463.3603
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select           {txt}{c |}
{space 10}total2 {c |}{col 18}{res}{space 2} .0214096{col 30}{space 2} .0039544{col 41}{space 1}    5.41{col 50}{space 3}0.000{col 58}{space 4} .0136591{col 71}{space 3}   .02916
{txt}{space 8}logforex {c |}{col 18}{res}{space 2}-.1527205{col 30}{space 2} .0559074{col 41}{space 1}   -2.73{col 50}{space 3}0.006{col 58}{space 4}-.2622969{col 71}{space 3}-.0431441
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2} .0332325{col 30}{space 2} .0706158{col 41}{space 1}    0.47{col 50}{space 3}0.638{col 58}{space 4}-.1051719{col 71}{space 3} .1716369
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} .0000214{col 30}{space 2} 4.98e-06{col 41}{space 1}    4.30{col 50}{space 3}0.000{col 58}{space 4} .0000116{col 71}{space 3} .0000312
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.0123498{col 30}{space 2} .0111784{col 41}{space 1}   -1.10{col 50}{space 3}0.269{col 58}{space 4}-.0342591{col 71}{space 3} .0095595
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-.9960704{col 30}{space 2} .4852367{col 41}{space 1}   -2.05{col 50}{space 3}0.040{col 58}{space 4}-1.947117{col 71}{space 3} -.045024
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}/athrho {c |}{col 18}{res}{space 2}-1.258181{col 30}{space 2} .2627547{col 41}{space 1}   -4.79{col 50}{space 3}0.000{col 58}{space 4}-1.773171{col 71}{space 3}-.7431916
{txt}{space 8}/lnsigma {c |}{col 18}{res}{space 2} 3.528084{col 30}{space 2}  .130697{col 41}{space 1}   26.99{col 50}{space 3}0.000{col 58}{space 4} 3.271922{col 71}{space 3} 3.784245
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             rho {c |}{col 18}{res}{space 2}-.8505619{col 30}{space 2} .0726633{col 58}{space 4}-.9439559{col 71}{space 3}-.6310696
{txt}           sigma {c |}{col 18}{res}{space 2} 34.05864{col 30}{space 2} 4.451363{col 58}{space 4} 26.36197{col 71}{space 3} 44.00245
{txt}          lambda {c |}{col 18}{res}{space 2}-28.96898{col 30}{space 2} 6.058865{col 58}{space 4}-40.84414{col 71}{space 3}-17.09383
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   22.93   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA34, title((A34))
{txt}
{com}. estout MODELA33 MODELA34, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea9.tex", replace style(tex)
{res}{txt}(note: file tablea9.tex not found)
(output written to {browse  `"tablea9.tex"'})

{com}. 
. **Table A10
. heckman haircut persrank if democratic==1, select(total2 regiondebtgdp logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-444.08287}  
Iteration 1:{space 3}log pseudolikelihood = {res:-443.80616}  
Iteration 2:{space 3}log pseudolikelihood = {res:-443.80582}  
Iteration 3:{space 3}log pseudolikelihood = {res:-443.80582}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,387
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,334

                                                {txt}Wald chi2({res}1{txt})      =  {res}     4.69
{txt}Log pseudolikelihood = {res}-443.8058                {txt}Prob > chi2       =     {res}0.0304

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.526402{col 28}{space 2} 1.166969{col 39}{space 1}   -2.16{col 48}{space 3}0.030{col 56}{space 4} -4.81362{col 69}{space 3}-.2391845
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 77.19883{col 28}{space 2} 17.65937{col 39}{space 1}    4.37{col 48}{space 3}0.000{col 56}{space 4}  42.5871{col 69}{space 3} 111.8106
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0189633{col 28}{space 2} .0038685{col 39}{space 1}    4.90{col 48}{space 3}0.000{col 56}{space 4} .0113813{col 69}{space 3} .0265454
{txt}{space 1}regiondebtgdp {c |}{col 16}{res}{space 2} .0051348{col 28}{space 2} .0024591{col 39}{space 1}    2.09{col 48}{space 3}0.037{col 56}{space 4} .0003151{col 69}{space 3} .0099545
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1621894{col 28}{space 2} .0645771{col 39}{space 1}   -2.51{col 48}{space 3}0.012{col 56}{space 4}-.2887581{col 69}{space 3}-.0356207
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0468071{col 28}{space 2} .0863682{col 39}{space 1}    0.54{col 48}{space 3}0.588{col 56}{space 4}-.1224715{col 69}{space 3} .2160857
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000242{col 28}{space 2} 4.84e-06{col 39}{space 1}    4.99{col 48}{space 3}0.000{col 56}{space 4} .0000147{col 69}{space 3} .0000337
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0132119{col 28}{space 2} .0138297{col 39}{space 1}   -0.96{col 48}{space 3}0.339{col 56}{space 4}-.0403176{col 69}{space 3} .0138938
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.394587{col 28}{space 2} .8292017{col 39}{space 1}   -1.68{col 48}{space 3}0.093{col 56}{space 4}-3.019792{col 69}{space 3} .2306187
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-.5767623{col 28}{space 2} .2968431{col 39}{space 1}   -1.94{col 48}{space 3}0.052{col 56}{space 4}-1.158564{col 69}{space 3} .0050394
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.390172{col 28}{space 2} .1137196{col 39}{space 1}   29.81{col 48}{space 3}0.000{col 56}{space 4} 3.167286{col 69}{space 3} 3.613059
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.5203082{col 28}{space 2} .2164815{col 56}{space 4}-.8205714{col 69}{space 3} .0050394
{txt}         sigma {c |}{col 16}{res}{space 2} 29.67106{col 28}{space 2} 3.374181{col 56}{space 4} 23.74296{col 69}{space 3} 37.07929
{txt}        lambda {c |}{col 16}{res}{space 2} -15.4381{col 28}{space 2} 7.494744{col 56}{space 4}-30.12753{col 69}{space 3}-.7486705
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    3.78   {txt}Prob > chi2 = {res}0.0520
{txt}
{com}. est store MODELA35, title((A35))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop if democratic==1, select(total2 regiondebtgdp logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-433.95994}  
Iteration 1:{space 3}log pseudolikelihood = {res:-432.93382}  
Iteration 2:{space 3}log pseudolikelihood = {res:-431.79939}  
Iteration 3:{space 3}log pseudolikelihood = {res:-431.74561}  
Iteration 4:{space 3}log pseudolikelihood = {res:-431.74526}  
Iteration 5:{space 3}log pseudolikelihood = {res:-431.74526}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,387
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,334

                                                {txt}Wald chi2({res}5{txt})      =  {res}    35.21
{txt}Log pseudolikelihood = {res}-431.7453                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.014405{col 28}{space 2} 1.044273{col 39}{space 1}   -2.89{col 48}{space 3}0.004{col 56}{space 4}-5.061143{col 69}{space 3}-.9676674
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.718438{col 28}{space 2} 10.66069{col 39}{space 1}    0.54{col 48}{space 3}0.592{col 56}{space 4}-15.17614{col 69}{space 3} 26.61301
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 14.54914{col 28}{space 2} 12.89066{col 39}{space 1}    1.13{col 48}{space 3}0.259{col 56}{space 4}-10.71609{col 69}{space 3} 39.81436
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-20.46474{col 28}{space 2} 5.041744{col 39}{space 1}   -4.06{col 48}{space 3}0.000{col 56}{space 4}-30.34638{col 69}{space 3} -10.5831
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.187598{col 28}{space 2} 3.804927{col 39}{space 1}   -0.31{col 48}{space 3}0.755{col 56}{space 4}-8.645118{col 69}{space 3} 6.269921
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 264.3304{col 28}{space 2} 87.76347{col 39}{space 1}    3.01{col 48}{space 3}0.003{col 56}{space 4} 92.31718{col 69}{space 3} 436.3437
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0200654{col 28}{space 2} .0038561{col 39}{space 1}    5.20{col 48}{space 3}0.000{col 56}{space 4} .0125076{col 69}{space 3} .0276232
{txt}{space 1}regiondebtgdp {c |}{col 16}{res}{space 2}  .004953{col 28}{space 2} .0018807{col 39}{space 1}    2.63{col 48}{space 3}0.008{col 56}{space 4} .0012669{col 69}{space 3} .0086392
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1459046{col 28}{space 2}  .060195{col 39}{space 1}   -2.42{col 48}{space 3}0.015{col 56}{space 4}-.2638847{col 69}{space 3}-.0279246
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0612064{col 28}{space 2} .0767886{col 39}{space 1}    0.80{col 48}{space 3}0.425{col 56}{space 4}-.0892964{col 69}{space 3} .2117093
{txt}currentaccount {c |}{col 16}{res}{space 2}  .000024{col 28}{space 2} 4.28e-06{col 39}{space 1}    5.60{col 48}{space 3}0.000{col 56}{space 4} .0000156{col 69}{space 3} .0000324
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} -.010289{col 28}{space 2} .0116396{col 39}{space 1}   -0.88{col 48}{space 3}0.377{col 56}{space 4}-.0331021{col 69}{space 3} .0125242
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.616441{col 28}{space 2} .6263477{col 39}{space 1}   -2.58{col 48}{space 3}0.010{col 56}{space 4}-2.844059{col 69}{space 3}-.3888216
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.177633{col 28}{space 2} .1951912{col 39}{space 1}   -6.03{col 48}{space 3}0.000{col 56}{space 4}  -1.5602{col 69}{space 3}-.7950652
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.478308{col 28}{space 2} .1063649{col 39}{space 1}   32.70{col 48}{space 3}0.000{col 56}{space 4} 3.269837{col 69}{space 3}  3.68678
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8267037{col 28}{space 2} .0617899{col 56}{space 4}-.9154529{col 69}{space 3}-.6612689
{txt}         sigma {c |}{col 16}{res}{space 2} 32.40486{col 28}{space 2} 3.446739{col 56}{space 4} 26.30705{col 69}{space 3} 39.91609
{txt}        lambda {c |}{col 16}{res}{space 2}-26.78921{col 28}{space 2} 4.559636{col 56}{space 4}-35.72594{col 69}{space 3}-17.85249
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   36.40   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA36, title((A36))
{txt}
{com}. heckman haircut persrank pr rightgov leftgov loggdppc logpop if democratic==1, select(total2 regiondebtgdp logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res: -433.9456}  
Iteration 1:{space 3}log pseudolikelihood = {res:-432.87492}  
Iteration 2:{space 3}log pseudolikelihood = {res:-431.76716}  
Iteration 3:{space 3}log pseudolikelihood = {res:-431.71825}  
Iteration 4:{space 3}log pseudolikelihood = {res:-431.71796}  
Iteration 5:{space 3}log pseudolikelihood = {res:-431.71796}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,387
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,334

                                                {txt}Wald chi2({res}6{txt})      =  {res}    35.29
{txt}Log pseudolikelihood = {res} -431.718                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.244786{col 28}{space 2}  1.57403{col 39}{space 1}   -2.06{col 48}{space 3}0.039{col 56}{space 4}-6.329829{col 69}{space 3}-.1597433
{txt}{space 12}pr {c |}{col 16}{res}{space 2}-2.922341{col 28}{space 2} 11.88886{col 39}{space 1}   -0.25{col 48}{space 3}0.806{col 56}{space 4}-26.22407{col 69}{space 3} 20.37939
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.942756{col 28}{space 2}   10.843{col 39}{space 1}    0.55{col 48}{space 3}0.584{col 56}{space 4}-15.30914{col 69}{space 3} 27.19465
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2}  14.4936{col 28}{space 2} 12.94156{col 39}{space 1}    1.12{col 48}{space 3}0.263{col 56}{space 4}-10.87139{col 69}{space 3} 39.85858
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-20.46427{col 28}{space 2} 4.989475{col 39}{space 1}   -4.10{col 48}{space 3}0.000{col 56}{space 4}-30.24346{col 69}{space 3}-10.68508
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-.8594469{col 28}{space 2} 4.155671{col 39}{space 1}   -0.21{col 48}{space 3}0.836{col 56}{space 4}-9.004412{col 69}{space 3} 7.285519
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 262.3951{col 28}{space 2} 89.33263{col 39}{space 1}    2.94{col 48}{space 3}0.003{col 56}{space 4} 87.30639{col 69}{space 3} 437.4839
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0200338{col 28}{space 2} .0038818{col 39}{space 1}    5.16{col 48}{space 3}0.000{col 56}{space 4} .0124255{col 69}{space 3}  .027642
{txt}{space 1}regiondebtgdp {c |}{col 16}{res}{space 2} .0049436{col 28}{space 2} .0018748{col 39}{space 1}    2.64{col 48}{space 3}0.008{col 56}{space 4} .0012691{col 69}{space 3} .0086182
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} -.145854{col 28}{space 2} .0601625{col 39}{space 1}   -2.42{col 48}{space 3}0.015{col 56}{space 4}-.2637704{col 69}{space 3}-.0279376
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0611335{col 28}{space 2} .0769694{col 39}{space 1}    0.79{col 48}{space 3}0.427{col 56}{space 4}-.0897236{col 69}{space 3} .2119907
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000242{col 28}{space 2} 4.34e-06{col 39}{space 1}    5.57{col 48}{space 3}0.000{col 56}{space 4} .0000157{col 69}{space 3} .0000327
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0099951{col 28}{space 2} .0113529{col 39}{space 1}   -0.88{col 48}{space 3}0.379{col 56}{space 4}-.0322463{col 69}{space 3} .0122561
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.616398{col 28}{space 2} .6261221{col 39}{space 1}   -2.58{col 48}{space 3}0.010{col 56}{space 4}-2.843575{col 69}{space 3}-.3892216
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}  -1.1794{col 28}{space 2}  .197958{col 39}{space 1}   -5.96{col 48}{space 3}0.000{col 56}{space 4}-1.567391{col 69}{space 3}-.7914099
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.478349{col 28}{space 2} .1057844{col 39}{space 1}   32.88{col 48}{space 3}0.000{col 56}{space 4} 3.271015{col 69}{space 3} 3.685682
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8272624{col 28}{space 2} .0624828{col 56}{space 4}-.9166097{col 69}{space 3} -.659207
{txt}         sigma {c |}{col 16}{res}{space 2} 32.40617{col 28}{space 2} 3.428067{col 56}{space 4} 26.33807{col 69}{space 3} 39.87232
{txt}        lambda {c |}{col 16}{res}{space 2}-26.80841{col 28}{space 2} 4.558739{col 56}{space 4}-35.74337{col 69}{space 3}-17.87344
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   35.50   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA37, title((A37))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop region1 region2 region3 region4 region5 region6 region7 region8 region9 region10 region11 region12 region13 region14 region15 region16 region17 region18 region19 region20 region21 region22 if democratic==1, select(total2 regiondebtgdp logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{txt}note: region1 omitted because of collinearity
note: region4 omitted because of collinearity
note: region6 omitted because of collinearity
note: region8 omitted because of collinearity
note: region9 omitted because of collinearity
note: region10 omitted because of collinearity
note: region11 omitted because of collinearity
note: region12 omitted because of collinearity
note: region13 omitted because of collinearity
note: region14 omitted because of collinearity
note: region16 omitted because of collinearity
note: region17 omitted because of collinearity
note: region18 omitted because of collinearity
note: region19 omitted because of collinearity
note: region20 omitted because of collinearity
note: region21 omitted because of collinearity
note: region22 omitted because of collinearity
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-429.22375}  
Iteration 1:{space 3}log pseudolikelihood = {res:-428.93844}  
Iteration 2:{space 3}log pseudolikelihood = {res: -427.1743}  
Iteration 3:{space 3}log pseudolikelihood = {res:-427.02393}  
Iteration 4:{space 3}log pseudolikelihood = {res:-427.02281}  
Iteration 5:{space 3}log pseudolikelihood = {res:-427.02281}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,387
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,334

{col 49}{help j_robustsingular##|_new:Wald chi2(9){col 68}= }{col 70}        .
{txt}Log pseudolikelihood = {res}-427.0228                {txt}Prob > chi2       =     {res}     .

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.342041{col 28}{space 2} 1.083037{col 39}{space 1}   -3.09{col 48}{space 3}0.002{col 56}{space 4}-5.464754{col 69}{space 3}-1.219329
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 7.377863{col 28}{space 2} 9.754792{col 39}{space 1}    0.76{col 48}{space 3}0.449{col 56}{space 4}-11.74118{col 69}{space 3}  26.4969
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 11.65422{col 28}{space 2} 12.05571{col 39}{space 1}    0.97{col 48}{space 3}0.334{col 56}{space 4}-11.97454{col 69}{space 3} 35.28299
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-18.96867{col 28}{space 2} 6.455613{col 39}{space 1}   -2.94{col 48}{space 3}0.003{col 56}{space 4}-31.62144{col 69}{space 3}-6.315905
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} .2467513{col 28}{space 2} 4.613335{col 39}{space 1}    0.05{col 48}{space 3}0.957{col 56}{space 4} -8.79522{col 69}{space 3} 9.288722
{txt}{space 7}region1 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region2 {c |}{col 16}{res}{space 2}-3.796005{col 28}{space 2} 18.18436{col 39}{space 1}   -0.21{col 48}{space 3}0.835{col 56}{space 4}-39.43669{col 69}{space 3} 31.84468
{txt}{space 7}region3 {c |}{col 16}{res}{space 2} 11.22596{col 28}{space 2} 19.66429{col 39}{space 1}    0.57{col 48}{space 3}0.568{col 56}{space 4}-27.31535{col 69}{space 3} 49.76727
{txt}{space 7}region4 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region5 {c |}{col 16}{res}{space 2} 33.19279{col 28}{space 2} 23.68956{col 39}{space 1}    1.40{col 48}{space 3}0.161{col 56}{space 4} -13.2379{col 69}{space 3} 79.62348
{txt}{space 7}region6 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region7 {c |}{col 16}{res}{space 2}-8.648053{col 28}{space 2} 19.81281{col 39}{space 1}   -0.44{col 48}{space 3}0.662{col 56}{space 4}-47.48045{col 69}{space 3} 30.18435
{txt}{space 7}region8 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region9 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region10 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region11 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region12 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region13 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region14 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region15 {c |}{col 16}{res}{space 2}-9.232598{col 28}{space 2} 16.84986{col 39}{space 1}   -0.55{col 48}{space 3}0.584{col 56}{space 4}-42.25772{col 69}{space 3} 23.79252
{txt}{space 6}region16 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region17 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region18 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region19 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region20 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region21 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region22 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 9}_cons {c |}{col 16}{res}{space 2} 233.5423{col 28}{space 2} 111.9032{col 39}{space 1}    2.09{col 48}{space 3}0.037{col 56}{space 4}  14.2161{col 69}{space 3} 452.8686
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0208134{col 28}{space 2} .0042462{col 39}{space 1}    4.90{col 48}{space 3}0.000{col 56}{space 4} .0124909{col 69}{space 3} .0291359
{txt}{space 1}regiondebtgdp {c |}{col 16}{res}{space 2} .0044126{col 28}{space 2} .0020954{col 39}{space 1}    2.11{col 48}{space 3}0.035{col 56}{space 4} .0003057{col 69}{space 3} .0085196
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1453775{col 28}{space 2} .0627227{col 39}{space 1}   -2.32{col 48}{space 3}0.020{col 56}{space 4}-.2683118{col 69}{space 3}-.0224433
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}  .054772{col 28}{space 2} .0793471{col 39}{space 1}    0.69{col 48}{space 3}0.490{col 56}{space 4}-.1007455{col 69}{space 3} .2102895
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000243{col 28}{space 2} 4.50e-06{col 39}{space 1}    5.40{col 48}{space 3}0.000{col 56}{space 4} .0000155{col 69}{space 3} .0000332
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0049439{col 28}{space 2}  .010138{col 39}{space 1}   -0.49{col 48}{space 3}0.626{col 56}{space 4} -.024814{col 69}{space 3} .0149262
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.552599{col 28}{space 2} .6452833{col 39}{space 1}   -2.41{col 48}{space 3}0.016{col 56}{space 4}-2.817331{col 69}{space 3}-.2878671
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.230385{col 28}{space 2} .2603022{col 39}{space 1}   -4.73{col 48}{space 3}0.000{col 56}{space 4}-1.740568{col 69}{space 3}-.7202024
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.410645{col 28}{space 2} .1407205{col 39}{space 1}   24.24{col 48}{space 3}0.000{col 56}{space 4} 3.134838{col 69}{space 3} 3.686452
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8426911{col 28}{space 2} .0754543{col 56}{space 4}-.9402925{col 69}{space 3}-.6170347
{txt}         sigma {c |}{col 16}{res}{space 2} 30.28476{col 28}{space 2} 4.261686{col 56}{space 4} 22.98491{col 69}{space 3} 39.90301
{txt}        lambda {c |}{col 16}{res}{space 2} -25.5207{col 28}{space 2}  5.72011{col 56}{space 4}-36.73191{col 69}{space 3}-14.30949
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   22.34   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA38, title((A38))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop debtrestructured brady newmoney if democratic==1, select(total2 regiondebtgdp logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-429.27388}  
Iteration 1:{space 3}log pseudolikelihood = {res: -428.5466}  
Iteration 2:{space 3}log pseudolikelihood = {res:-428.53738}  
Iteration 3:{space 3}log pseudolikelihood = {res:-428.53738}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,387
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,334

                                                {txt}Wald chi2({res}8{txt})      =  {res}    78.47
{txt}Log pseudolikelihood = {res}-428.5374                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 82:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut          {txt}{c |}
{space 8}persrank {c |}{col 18}{res}{space 2}-2.920381{col 30}{space 2} .9915119{col 41}{space 1}   -2.95{col 50}{space 3}0.003{col 58}{space 4}-4.863708{col 71}{space 3} -.977053
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2}-1.204399{col 30}{space 2}  8.21766{col 41}{space 1}   -0.15{col 50}{space 3}0.883{col 58}{space 4}-17.31072{col 71}{space 3} 14.90192
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} 6.796061{col 30}{space 2} 10.93428{col 41}{space 1}    0.62{col 50}{space 3}0.534{col 58}{space 4}-14.63474{col 71}{space 3} 28.22686
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-24.60133{col 30}{space 2} 5.213246{col 41}{space 1}   -4.72{col 50}{space 3}0.000{col 58}{space 4} -34.8191{col 71}{space 3}-14.38355
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-2.798627{col 30}{space 2} 3.442157{col 41}{space 1}   -0.81{col 50}{space 3}0.416{col 58}{space 4} -9.54513{col 71}{space 3} 3.947876
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0002129{col 30}{space 2}  .000089{col 41}{space 1}    2.39{col 50}{space 3}0.017{col 58}{space 4} .0000384{col 71}{space 3} .0003874
{txt}{space 11}brady {c |}{col 18}{res}{space 2} 16.38753{col 30}{space 2} 4.922728{col 41}{space 1}    3.33{col 50}{space 3}0.001{col 58}{space 4} 6.739156{col 71}{space 3}  26.0359
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-10.32825{col 30}{space 2} 4.023209{col 41}{space 1}   -2.57{col 50}{space 3}0.010{col 58}{space 4} -18.2136{col 71}{space 3}-2.442906
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 309.2587{col 30}{space 2} 78.67222{col 41}{space 1}    3.93{col 50}{space 3}0.000{col 58}{space 4}  155.064{col 71}{space 3} 463.4534
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select           {txt}{c |}
{space 10}total2 {c |}{col 18}{res}{space 2} .0199331{col 30}{space 2} .0041334{col 41}{space 1}    4.82{col 50}{space 3}0.000{col 58}{space 4} .0118318{col 71}{space 3} .0280343
{txt}{space 3}regiondebtgdp {c |}{col 18}{res}{space 2} .0052933{col 30}{space 2} .0021338{col 41}{space 1}    2.48{col 50}{space 3}0.013{col 58}{space 4} .0011112{col 71}{space 3} .0094754
{txt}{space 8}logforex {c |}{col 18}{res}{space 2}-.1534878{col 30}{space 2} .0624795{col 41}{space 1}   -2.46{col 50}{space 3}0.014{col 58}{space 4}-.2759455{col 71}{space 3}-.0310302
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2} .0776717{col 30}{space 2} .0798445{col 41}{space 1}    0.97{col 50}{space 3}0.331{col 58}{space 4}-.0788206{col 71}{space 3} .2341639
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2}  .000025{col 30}{space 2} 4.83e-06{col 41}{space 1}    5.17{col 50}{space 3}0.000{col 58}{space 4} .0000155{col 71}{space 3} .0000344
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.0128565{col 30}{space 2} .0121011{col 41}{space 1}   -1.06{col 50}{space 3}0.288{col 58}{space 4}-.0365742{col 71}{space 3} .0108612
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-1.701744{col 30}{space 2} .6718835{col 41}{space 1}   -2.53{col 50}{space 3}0.011{col 58}{space 4}-3.018611{col 71}{space 3} -.384876
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}/athrho {c |}{col 18}{res}{space 2}-.9346579{col 30}{space 2} .3261296{col 41}{space 1}   -2.87{col 50}{space 3}0.004{col 58}{space 4} -1.57386{col 71}{space 3}-.2954556
{txt}{space 8}/lnsigma {c |}{col 18}{res}{space 2} 3.281782{col 30}{space 2} .1819046{col 41}{space 1}   18.04{col 50}{space 3}0.000{col 58}{space 4} 2.925256{col 71}{space 3} 3.638309
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             rho {c |}{col 18}{res}{space 2}-.7327582{col 30}{space 2} .1510193{col 58}{space 4}-.9176376{col 71}{space 3}-.2871484
{txt}           sigma {c |}{col 18}{res}{space 2} 26.62319{col 30}{space 2}  4.84288{col 58}{space 4}   18.639{col 71}{space 3} 38.02748
{txt}          lambda {c |}{col 18}{res}{space 2}-19.50836{col 30}{space 2}  7.35498{col 58}{space 4}-33.92385{col 71}{space 3}-5.092861
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    8.21   {txt}Prob > chi2 = {res}0.0042
{txt}
{com}. est store MODELA39, title((A39))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop imports_gdp exports_gdp if democratic==1, select(total2 regiondebtgdp logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-432.96793}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-428.80269}  
Iteration 2:{space 3}log pseudolikelihood = {res:-427.97934}  
Iteration 3:{space 3}log pseudolikelihood = {res:-427.95043}  
Iteration 4:{space 3}log pseudolikelihood = {res:-427.95035}  
Iteration 5:{space 3}log pseudolikelihood = {res:-427.95035}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,387
{txt}(regression model with sample selection)              Selected    = {res}        53
                                                {txt}      Nonselected = {res}     1,334

                                                {txt}Wald chi2({res}7{txt})      =  {res}    55.59
{txt}Log pseudolikelihood = {res}-427.9503                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.607679{col 28}{space 2}  .890146{col 39}{space 1}   -2.93{col 48}{space 3}0.003{col 56}{space 4}-4.352333{col 69}{space 3}-.8630244
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 10.19755{col 28}{space 2} 9.632911{col 39}{space 1}    1.06{col 48}{space 3}0.290{col 56}{space 4}-8.682613{col 69}{space 3}  29.0777
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 17.46728{col 28}{space 2} 11.26635{col 39}{space 1}    1.55{col 48}{space 3}0.121{col 56}{space 4}-4.614365{col 69}{space 3} 39.54893
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-16.29757{col 28}{space 2} 5.734816{col 39}{space 1}   -2.84{col 48}{space 3}0.004{col 56}{space 4}-27.53761{col 69}{space 3}-5.057541
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} 2.483035{col 28}{space 2} 4.527128{col 39}{space 1}    0.55{col 48}{space 3}0.583{col 56}{space 4}-6.389973{col 69}{space 3} 11.35604
{txt}{space 3}imports_gdp {c |}{col 16}{res}{space 2} .9725872{col 28}{space 2} .5634996{col 39}{space 1}    1.73{col 48}{space 3}0.084{col 56}{space 4}-.1318518{col 69}{space 3} 2.077026
{txt}{space 3}exports_gdp {c |}{col 16}{res}{space 2}-.8674601{col 28}{space 2} .6610323{col 39}{space 1}   -1.31{col 48}{space 3}0.189{col 56}{space 4} -2.16306{col 69}{space 3} .4281395
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 172.4859{col 28}{space 2} 108.6206{col 39}{space 1}    1.59{col 48}{space 3}0.112{col 56}{space 4}-40.40654{col 69}{space 3} 385.3783
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0194698{col 28}{space 2} .0040258{col 39}{space 1}    4.84{col 48}{space 3}0.000{col 56}{space 4} .0115794{col 69}{space 3} .0273603
{txt}{space 1}regiondebtgdp {c |}{col 16}{res}{space 2} .0052014{col 28}{space 2} .0017976{col 39}{space 1}    2.89{col 48}{space 3}0.004{col 56}{space 4} .0016782{col 69}{space 3} .0087246
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1494974{col 28}{space 2} .0622498{col 39}{space 1}   -2.40{col 48}{space 3}0.016{col 56}{space 4}-.2715047{col 69}{space 3}-.0274902
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0695223{col 28}{space 2} .0775857{col 39}{space 1}    0.90{col 48}{space 3}0.370{col 56}{space 4} -.082543{col 69}{space 3} .2215875
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000277{col 28}{space 2} 4.96e-06{col 39}{space 1}    5.58{col 48}{space 3}0.000{col 56}{space 4}  .000018{col 69}{space 3} .0000374
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0142722{col 28}{space 2}  .011375{col 39}{space 1}   -1.25{col 48}{space 3}0.210{col 56}{space 4}-.0365668{col 69}{space 3} .0080225
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.656421{col 28}{space 2} .6017598{col 39}{space 1}   -2.75{col 48}{space 3}0.006{col 56}{space 4}-2.835849{col 69}{space 3}-.4769935
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.449379{col 28}{space 2} .3364186{col 39}{space 1}   -4.31{col 48}{space 3}0.000{col 56}{space 4}-2.108747{col 69}{space 3}-.7900104
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.548171{col 28}{space 2} .1549729{col 39}{space 1}   22.90{col 48}{space 3}0.000{col 56}{space 4}  3.24443{col 69}{space 3} 3.851912
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}  -.89557{col 28}{space 2} .0665956{col 56}{space 4}-.9709569{col 69}{space 3}-.6584149
{txt}         sigma {c |}{col 16}{res}{space 2}  34.7497{col 28}{space 2} 5.385262{col 56}{space 4} 25.64708{col 69}{space 3} 47.08301
{txt}        lambda {c |}{col 16}{res}{space 2}-31.12079{col 28}{space 2} 6.824498{col 56}{space 4}-44.49656{col 69}{space 3}-17.74502
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   18.56   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA40, title((A40))
{txt}
{com}. estout MODELA35 MODELA36 MODELA37 MODELA38 MODELA39 MODELA40, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea10.tex", replace style(tex)
{res}{txt}(note: file tablea10.tex not found)
(output written to {browse  `"tablea10.tex"'})

{com}. 
. *Table A11
. heckman haircut persrank if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-383.73904}  
Iteration 1:{space 3}log pseudolikelihood = {res:-383.16069}  
Iteration 2:{space 3}log pseudolikelihood = {res:-383.15884}  
Iteration 3:{space 3}log pseudolikelihood = {res:-383.15884}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,227
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,181

                                                {txt}Wald chi2({res}1{txt})      =  {res}     8.42
{txt}Log pseudolikelihood = {res}-383.1588                {txt}Prob > chi2       =     {res}0.0037

{txt}{ralign 80:(Std. Err. adjusted for {res:70} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.269089{col 28}{space 2} 1.126423{col 39}{space 1}   -2.90{col 48}{space 3}0.004{col 56}{space 4}-5.476838{col 69}{space 3}-1.061339
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 92.76323{col 28}{space 2} 17.43615{col 39}{space 1}    5.32{col 48}{space 3}0.000{col 56}{space 4} 58.58901{col 69}{space 3} 126.9374
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0174998{col 28}{space 2} .0032952{col 39}{space 1}    5.31{col 48}{space 3}0.000{col 56}{space 4} .0110412{col 69}{space 3} .0239584
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1492995{col 28}{space 2} .0521316{col 39}{space 1}   -2.86{col 48}{space 3}0.004{col 56}{space 4}-.2514755{col 69}{space 3}-.0471235
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0333261{col 28}{space 2} .0780408{col 39}{space 1}    0.43{col 48}{space 3}0.669{col 56}{space 4}-.1196311{col 69}{space 3} .1862834
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000329{col 28}{space 2} 7.59e-06{col 39}{space 1}    4.33{col 48}{space 3}0.000{col 56}{space 4}  .000018{col 69}{space 3} .0000477
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0148167{col 28}{space 2}  .015706{col 39}{space 1}   -0.94{col 48}{space 3}0.345{col 56}{space 4}-.0455999{col 69}{space 3} .0159665
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0030743{col 28}{space 2} .0013273{col 39}{space 1}    2.32{col 48}{space 3}0.021{col 56}{space 4} .0004729{col 69}{space 3} .0056758
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.182612{col 28}{space 2} .6064828{col 39}{space 1}   -1.95{col 48}{space 3}0.051{col 56}{space 4}-2.371296{col 69}{space 3} .0060726
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-.8154813{col 28}{space 2} .2898357{col 39}{space 1}   -2.81{col 48}{space 3}0.005{col 56}{space 4}-1.383549{col 69}{space 3}-.2474136
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.434661{col 28}{space 2} .1540624{col 39}{space 1}   22.29{col 48}{space 3}0.000{col 56}{space 4} 3.132704{col 69}{space 3} 3.736618
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.6726029{col 28}{space 2} .1587156{col 56}{space 4}-.8817435{col 69}{space 3}-.2424859
{txt}         sigma {c |}{col 16}{res}{space 2}  31.0209{col 28}{space 2} 4.779155{col 56}{space 4} 22.93593{col 69}{space 3} 41.95586
{txt}        lambda {c |}{col 16}{res}{space 2}-20.86475{col 28}{space 2} 7.466598{col 56}{space 4}-35.49901{col 69}{space 3}-6.230485
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    7.92   {txt}Prob > chi2 = {res}0.0049
{txt}
{com}. est store MODELA41, title((A41))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-375.30386}  
Iteration 1:{space 3}log pseudolikelihood = {res:-374.22649}  
Iteration 2:{space 3}log pseudolikelihood = {res:-373.70339}  
Iteration 3:{space 3}log pseudolikelihood = {res:-373.69671}  
Iteration 4:{space 3}log pseudolikelihood = {res:-373.69671}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,227
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,181

                                                {txt}Wald chi2({res}5{txt})      =  {res}    36.58
{txt}Log pseudolikelihood = {res}-373.6967                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:70} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.855072{col 28}{space 2} .8329382{col 39}{space 1}   -4.63{col 48}{space 3}0.000{col 56}{space 4}-5.487601{col 69}{space 3}-2.222543
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 2.350866{col 28}{space 2} 9.579492{col 39}{space 1}    0.25{col 48}{space 3}0.806{col 56}{space 4}-16.42459{col 69}{space 3} 21.12632
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 10.34376{col 28}{space 2} 12.25169{col 39}{space 1}    0.84{col 48}{space 3}0.399{col 56}{space 4} -13.6691{col 69}{space 3} 34.35663
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-18.85842{col 28}{space 2} 5.627018{col 39}{space 1}   -3.35{col 48}{space 3}0.001{col 56}{space 4}-29.88717{col 69}{space 3}-7.829667
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-.4717172{col 28}{space 2} 3.800326{col 39}{space 1}   -0.12{col 48}{space 3}0.901{col 56}{space 4}-7.920219{col 69}{space 3} 6.976785
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 245.3485{col 28}{space 2} 86.82787{col 39}{space 1}    2.83{col 48}{space 3}0.005{col 56}{space 4} 75.16899{col 69}{space 3}  415.528
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0190709{col 28}{space 2} .0033314{col 39}{space 1}    5.72{col 48}{space 3}0.000{col 56}{space 4} .0125415{col 69}{space 3} .0256003
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1454927{col 28}{space 2} .0532076{col 39}{space 1}   -2.73{col 48}{space 3}0.006{col 56}{space 4}-.2497778{col 69}{space 3}-.0412076
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0637141{col 28}{space 2} .0771691{col 39}{space 1}    0.83{col 48}{space 3}0.409{col 56}{space 4}-.0875345{col 69}{space 3} .2149628
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000316{col 28}{space 2} 7.71e-06{col 39}{space 1}    4.10{col 48}{space 3}0.000{col 56}{space 4} .0000165{col 69}{space 3} .0000467
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0145949{col 28}{space 2} .0142223{col 39}{space 1}   -1.03{col 48}{space 3}0.305{col 56}{space 4}  -.04247{col 69}{space 3} .0132803
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0024017{col 28}{space 2} .0014459{col 39}{space 1}    1.66{col 48}{space 3}0.097{col 56}{space 4}-.0004322{col 69}{space 3} .0052356
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} -1.40131{col 28}{space 2} .5415293{col 39}{space 1}   -2.59{col 48}{space 3}0.010{col 56}{space 4}-2.462688{col 69}{space 3}-.3399318
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.139278{col 28}{space 2} .2198334{col 39}{space 1}   -5.18{col 48}{space 3}0.000{col 56}{space 4}-1.570143{col 69}{space 3}-.7084123
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.413923{col 28}{space 2} .1296456{col 39}{space 1}   26.33{col 48}{space 3}0.000{col 56}{space 4} 3.159822{col 69}{space 3} 3.668024
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8141708{col 28}{space 2} .0741115{col 56}{space 4}-.9170486{col 69}{space 3}-.6096803
{txt}         sigma {c |}{col 16}{res}{space 2} 30.38422{col 28}{space 2} 3.939181{col 56}{space 4} 23.56641{col 69}{space 3} 39.17442
{txt}        lambda {c |}{col 16}{res}{space 2}-24.73794{col 28}{space 2}  5.10668{col 56}{space 4}-34.74685{col 69}{space 3}-14.72903
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   26.86   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA42, title((A42))
{txt}
{com}. heckman haircut persrank pr rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-374.89756}  
Iteration 1:{space 3}log pseudolikelihood = {res:-373.86766}  
Iteration 2:{space 3}log pseudolikelihood = {res:-372.95618}  
Iteration 3:{space 3}log pseudolikelihood = {res:-372.93455}  
Iteration 4:{space 3}log pseudolikelihood = {res:-372.93452}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,227
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,181

                                                {txt}Wald chi2({res}6{txt})      =  {res}    38.58
{txt}Log pseudolikelihood = {res}-372.9345                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:70} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-5.258906{col 28}{space 2}  1.39554{col 39}{space 1}   -3.77{col 48}{space 3}0.000{col 56}{space 4}-7.994114{col 69}{space 3}-2.523697
{txt}{space 12}pr {c |}{col 16}{res}{space 2}-16.96362{col 28}{space 2} 13.06337{col 39}{space 1}   -1.30{col 48}{space 3}0.194{col 56}{space 4}-42.56736{col 69}{space 3} 8.640127
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.771324{col 28}{space 2} 9.865162{col 39}{space 1}    0.59{col 48}{space 3}0.559{col 56}{space 4}-13.56404{col 69}{space 3} 25.10669
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 12.67222{col 28}{space 2} 13.21816{col 39}{space 1}    0.96{col 48}{space 3}0.338{col 56}{space 4} -13.2349{col 69}{space 3} 38.57933
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-19.47243{col 28}{space 2} 5.219131{col 39}{space 1}   -3.73{col 48}{space 3}0.000{col 56}{space 4}-29.70173{col 69}{space 3}-9.243118
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} 1.971014{col 28}{space 2} 4.455684{col 39}{space 1}    0.44{col 48}{space 3}0.658{col 56}{space 4}-6.761966{col 69}{space 3} 10.70399
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 229.6593{col 28}{space 2} 89.02287{col 39}{space 1}    2.58{col 48}{space 3}0.010{col 56}{space 4} 55.17771{col 69}{space 3}  404.141
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0187976{col 28}{space 2}  .003358{col 39}{space 1}    5.60{col 48}{space 3}0.000{col 56}{space 4}  .012216{col 69}{space 3} .0253792
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1465286{col 28}{space 2} .0535401{col 39}{space 1}   -2.74{col 48}{space 3}0.006{col 56}{space 4}-.2514653{col 69}{space 3}-.0415919
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0644885{col 28}{space 2} .0770189{col 39}{space 1}    0.84{col 48}{space 3}0.402{col 56}{space 4}-.0864657{col 69}{space 3} .2154428
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000335{col 28}{space 2} 7.03e-06{col 39}{space 1}    4.77{col 48}{space 3}0.000{col 56}{space 4} .0000197{col 69}{space 3} .0000473
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}  -.01346{col 28}{space 2} .0131459{col 39}{space 1}   -1.02{col 48}{space 3}0.306{col 56}{space 4}-.0392256{col 69}{space 3} .0123056
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0022849{col 28}{space 2}   .00147{col 39}{space 1}    1.55{col 48}{space 3}0.120{col 56}{space 4}-.0005962{col 69}{space 3} .0051661
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.394324{col 28}{space 2} .5390013{col 39}{space 1}   -2.59{col 48}{space 3}0.010{col 56}{space 4}-2.450747{col 69}{space 3}-.3379006
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.197896{col 28}{space 2} .2714459{col 39}{space 1}   -4.41{col 48}{space 3}0.000{col 56}{space 4} -1.72992{col 69}{space 3}-.6658718
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.425488{col 28}{space 2} .1341285{col 39}{space 1}   25.54{col 48}{space 3}0.000{col 56}{space 4} 3.162601{col 69}{space 3} 3.688375
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8330117{col 28}{space 2} .0830873{col 56}{space 4}-.9390465{col 69}{space 3}-.5822578
{txt}         sigma {c |}{col 16}{res}{space 2} 30.73763{col 28}{space 2} 4.122792{col 56}{space 4} 23.63198{col 69}{space 3} 39.97982
{txt}        lambda {c |}{col 16}{res}{space 2}-25.60481{col 28}{space 2} 5.604082{col 56}{space 4}-36.58861{col 69}{space 3}-14.62101
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   19.47   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA43, title((A43))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop region1 region2 region3 region4 region5 region6 region7 region8 region9 region10 region11 region12 region13 region14 region15 region16 region17 region18 region19 region20 region21 region22 if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg) vce(cluster ccode)
{txt}note: region1 omitted because of collinearity
note: region4 omitted because of collinearity
note: region6 omitted because of collinearity
note: region8 omitted because of collinearity
note: region9 omitted because of collinearity
note: region10 omitted because of collinearity
note: region11 omitted because of collinearity
note: region12 omitted because of collinearity
note: region13 omitted because of collinearity
note: region14 omitted because of collinearity
note: region16 omitted because of collinearity
note: region17 omitted because of collinearity
note: region18 omitted because of collinearity
note: region19 omitted because of collinearity
note: region20 omitted because of collinearity
note: region21 omitted because of collinearity
note: region22 omitted because of collinearity
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-373.99764}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-367.94567}  
Iteration 2:{space 3}log pseudolikelihood = {res:-366.43986}  
Iteration 3:{space 3}log pseudolikelihood = {res:-366.19818}  
Iteration 4:{space 3}log pseudolikelihood = {res:-366.13451}  
Iteration 5:{space 3}log pseudolikelihood = {res:-366.13428}  
Iteration 6:{space 3}log pseudolikelihood = {res:-366.13428}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,227
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,181

{col 49}{help j_robustsingular##|_new:Wald chi2(9){col 68}= }{col 70}        .
{txt}Log pseudolikelihood = {res}-366.1343                {txt}Prob > chi2       =     {res}     .

{txt}{ralign 80:(Std. Err. adjusted for {res:70} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.742711{col 28}{space 2}  1.07088{col 39}{space 1}   -3.49{col 48}{space 3}0.000{col 56}{space 4}-5.841597{col 69}{space 3}-1.643825
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.080427{col 28}{space 2} 9.492409{col 39}{space 1}    0.54{col 48}{space 3}0.593{col 56}{space 4}-13.52435{col 69}{space 3} 23.68521
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 7.366472{col 28}{space 2} 14.26086{col 39}{space 1}    0.52{col 48}{space 3}0.605{col 56}{space 4} -20.5843{col 69}{space 3} 35.31724
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-13.90162{col 28}{space 2} 7.344324{col 39}{space 1}   -1.89{col 48}{space 3}0.058{col 56}{space 4}-28.29623{col 69}{space 3} .4929941
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-.0639445{col 28}{space 2} 5.076126{col 39}{space 1}   -0.01{col 48}{space 3}0.990{col 56}{space 4}-10.01297{col 69}{space 3}  9.88508
{txt}{space 7}region1 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region2 {c |}{col 16}{res}{space 2} 4.040618{col 28}{space 2} 14.59386{col 39}{space 1}    0.28{col 48}{space 3}0.782{col 56}{space 4}-24.56282{col 69}{space 3} 32.64406
{txt}{space 7}region3 {c |}{col 16}{res}{space 2} 28.74559{col 28}{space 2} 22.20983{col 39}{space 1}    1.29{col 48}{space 3}0.196{col 56}{space 4}-14.78487{col 69}{space 3} 72.27605
{txt}{space 7}region4 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region5 {c |}{col 16}{res}{space 2} 62.99219{col 28}{space 2} 22.74065{col 39}{space 1}    2.77{col 48}{space 3}0.006{col 56}{space 4} 18.42133{col 69}{space 3} 107.5631
{txt}{space 7}region6 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region7 {c |}{col 16}{res}{space 2} 1.848207{col 28}{space 2} 21.82694{col 39}{space 1}    0.08{col 48}{space 3}0.933{col 56}{space 4}-40.93181{col 69}{space 3} 44.62822
{txt}{space 7}region8 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region9 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region10 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region11 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region12 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region13 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region14 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region15 {c |}{col 16}{res}{space 2} 4.619418{col 28}{space 2} 16.45338{col 39}{space 1}    0.28{col 48}{space 3}0.779{col 56}{space 4}-27.62862{col 69}{space 3} 36.86746
{txt}{space 6}region16 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region17 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region18 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region19 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region20 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region21 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region22 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 9}_cons {c |}{col 16}{res}{space 2}  197.182{col 28}{space 2} 89.86277{col 39}{space 1}    2.19{col 48}{space 3}0.028{col 56}{space 4} 21.05425{col 69}{space 3} 373.3098
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0182057{col 28}{space 2} .0039809{col 39}{space 1}    4.57{col 48}{space 3}0.000{col 56}{space 4} .0104032{col 69}{space 3} .0260082
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1342821{col 28}{space 2} .0550665{col 39}{space 1}   -2.44{col 48}{space 3}0.015{col 56}{space 4}-.2422106{col 69}{space 3}-.0263537
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0708791{col 28}{space 2}   .07758{col 39}{space 1}    0.91{col 48}{space 3}0.361{col 56}{space 4}-.0811749{col 69}{space 3} .2229331
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000318{col 28}{space 2} 7.02e-06{col 39}{space 1}    4.52{col 48}{space 3}0.000{col 56}{space 4}  .000018{col 69}{space 3} .0000455
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0040086{col 28}{space 2} .0106937{col 39}{space 1}   -0.37{col 48}{space 3}0.708{col 56}{space 4}-.0249679{col 69}{space 3} .0169506
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0033624{col 28}{space 2} .0011309{col 39}{space 1}    2.97{col 48}{space 3}0.003{col 56}{space 4} .0011459{col 69}{space 3} .0055789
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} -1.62864{col 28}{space 2} .5170482{col 39}{space 1}   -3.15{col 48}{space 3}0.002{col 56}{space 4}-2.642036{col 69}{space 3}-.6152439
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.424488{col 28}{space 2} .2478873{col 39}{space 1}   -5.75{col 48}{space 3}0.000{col 56}{space 4}-1.910338{col 69}{space 3} -.938638
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.407519{col 28}{space 2} .1035824{col 39}{space 1}   32.90{col 48}{space 3}0.000{col 56}{space 4} 3.204501{col 69}{space 3} 3.610536
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8905315{col 28}{space 2} .0513012{col 56}{space 4}-.9571138{col 69}{space 3}-.7345958
{txt}         sigma {c |}{col 16}{res}{space 2} 30.19024{col 28}{space 2} 3.127177{col 56}{space 4} 24.64319{col 69}{space 3} 36.98588
{txt}        lambda {c |}{col 16}{res}{space 2}-26.88536{col 28}{space 2}  3.94324{col 56}{space 4}-34.61396{col 69}{space 3}-19.15675
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   33.02   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA44, title((A44))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop debtrestructured brady newmoney if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-372.70482}  
Iteration 1:{space 3}log pseudolikelihood = {res:-372.03582}  
Iteration 2:{space 3}log pseudolikelihood = {res:-371.74787}  
Iteration 3:{space 3}log pseudolikelihood = {res:-371.73994}  
Iteration 4:{space 3}log pseudolikelihood = {res:-371.73992}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,227
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,181

                                                {txt}Wald chi2({res}8{txt})      =  {res}    54.76
{txt}Log pseudolikelihood = {res}-371.7399                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 82:(Std. Err. adjusted for {res:70} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut          {txt}{c |}
{space 8}persrank {c |}{col 18}{res}{space 2}-3.459274{col 30}{space 2} .9006005{col 41}{space 1}   -3.84{col 50}{space 3}0.000{col 58}{space 4}-5.224419{col 71}{space 3} -1.69413
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2}-8.293193{col 30}{space 2}   10.801{col 41}{space 1}   -0.77{col 50}{space 3}0.443{col 58}{space 4}-29.46276{col 71}{space 3} 12.87638
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2}-.5423778{col 30}{space 2} 13.12759{col 41}{space 1}   -0.04{col 50}{space 3}0.967{col 58}{space 4}-26.27198{col 71}{space 3} 25.18722
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-23.00286{col 30}{space 2} 6.035315{col 41}{space 1}   -3.81{col 50}{space 3}0.000{col 58}{space 4}-34.83186{col 71}{space 3}-11.17386
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-3.163534{col 30}{space 2} 3.831712{col 41}{space 1}   -0.83{col 50}{space 3}0.409{col 58}{space 4}-10.67355{col 71}{space 3} 4.346484
{txt}debtrestructured {c |}{col 18}{res}{space 2}   .00018{col 30}{space 2} .0000896{col 41}{space 1}    2.01{col 50}{space 3}0.045{col 58}{space 4} 4.38e-06{col 71}{space 3} .0003556
{txt}{space 11}brady {c |}{col 18}{res}{space 2} 15.94075{col 30}{space 2} 7.094048{col 41}{space 1}    2.25{col 50}{space 3}0.025{col 58}{space 4} 2.036667{col 71}{space 3} 29.84482
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-7.410687{col 30}{space 2} 4.315459{col 41}{space 1}   -1.72{col 50}{space 3}0.086{col 58}{space 4}-15.86883{col 71}{space 3} 1.047457
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 311.5264{col 30}{space 2} 90.42319{col 41}{space 1}    3.45{col 50}{space 3}0.001{col 58}{space 4} 134.3002{col 71}{space 3} 488.7526
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select           {txt}{c |}
{space 10}total2 {c |}{col 18}{res}{space 2} .0191432{col 30}{space 2} .0036067{col 41}{space 1}    5.31{col 50}{space 3}0.000{col 58}{space 4} .0120742{col 71}{space 3} .0262122
{txt}{space 8}logforex {c |}{col 18}{res}{space 2}-.1490269{col 30}{space 2} .0538247{col 41}{space 1}   -2.77{col 50}{space 3}0.006{col 58}{space 4}-.2545213{col 71}{space 3}-.0435324
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2} .0732062{col 30}{space 2}  .078442{col 41}{space 1}    0.93{col 50}{space 3}0.351{col 58}{space 4}-.0805373{col 71}{space 3} .2269496
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} .0000331{col 30}{space 2} 8.74e-06{col 41}{space 1}    3.79{col 50}{space 3}0.000{col 58}{space 4}  .000016{col 71}{space 3} .0000503
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.0145867{col 30}{space 2} .0142367{col 41}{space 1}   -1.02{col 50}{space 3}0.306{col 58}{space 4}-.0424901{col 71}{space 3} .0133167
{txt}{space 14}cg {c |}{col 18}{res}{space 2} .0024859{col 30}{space 2} .0015528{col 41}{space 1}    1.60{col 50}{space 3}0.109{col 58}{space 4}-.0005575{col 71}{space 3} .0055292
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-1.450813{col 30}{space 2} .5560351{col 41}{space 1}   -2.61{col 50}{space 3}0.009{col 58}{space 4}-2.540622{col 71}{space 3}-.3610042
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}/athrho {c |}{col 18}{res}{space 2}-.9266557{col 30}{space 2} .3765526{col 41}{space 1}   -2.46{col 50}{space 3}0.014{col 58}{space 4}-1.664685{col 71}{space 3}-.1886262
{txt}{space 8}/lnsigma {c |}{col 18}{res}{space 2} 3.248756{col 30}{space 2}  .200467{col 41}{space 1}   16.21{col 50}{space 3}0.000{col 58}{space 4} 2.855848{col 71}{space 3} 3.641664
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             rho {c |}{col 18}{res}{space 2}-.7290309{col 30}{space 2} .1764202{col 58}{space 4}-.9308455{col 71}{space 3}-.1864205
{txt}           sigma {c |}{col 18}{res}{space 2} 25.75828{col 30}{space 2} 5.163686{col 58}{space 4} 17.38917{col 71}{space 3} 38.15528
{txt}          lambda {c |}{col 18}{res}{space 2}-18.77858{col 30}{space 2} 8.065843{col 58}{space 4}-34.58734{col 71}{space 3}-2.969817
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    6.06   {txt}Prob > chi2 = {res}0.0139
{txt}
{com}. est store MODELA45, title((A45))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop imports_gdp exports_gdp if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-374.90508}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-372.85635}  
Iteration 2:{space 3}log pseudolikelihood = {res:-372.32407}  
Iteration 3:{space 3}log pseudolikelihood = {res:-372.30584}  
Iteration 4:{space 3}log pseudolikelihood = {res: -372.3058}  
Iteration 5:{space 3}log pseudolikelihood = {res: -372.3058}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,227
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,181

                                                {txt}Wald chi2({res}7{txt})      =  {res}    45.42
{txt}Log pseudolikelihood = {res}-372.3058                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:70} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.415214{col 28}{space 2} .7280603{col 39}{space 1}   -4.69{col 48}{space 3}0.000{col 56}{space 4}-4.842186{col 69}{space 3}-1.988242
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}  4.23932{col 28}{space 2} 8.838951{col 39}{space 1}    0.48{col 48}{space 3}0.631{col 56}{space 4}-13.08471{col 69}{space 3} 21.56335
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 12.28075{col 28}{space 2} 11.95336{col 39}{space 1}    1.03{col 48}{space 3}0.304{col 56}{space 4} -11.1474{col 69}{space 3} 35.70889
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-18.19564{col 28}{space 2} 6.789017{col 39}{space 1}   -2.68{col 48}{space 3}0.007{col 56}{space 4}-31.50187{col 69}{space 3}-4.889416
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-.3307746{col 28}{space 2} 4.044235{col 39}{space 1}   -0.08{col 48}{space 3}0.935{col 56}{space 4}-8.257329{col 69}{space 3}  7.59578
{txt}{space 3}imports_gdp {c |}{col 16}{res}{space 2} .5931987{col 28}{space 2} .5627311{col 39}{space 1}    1.05{col 48}{space 3}0.292{col 56}{space 4} -.509734{col 69}{space 3} 1.696131
{txt}{space 3}exports_gdp {c |}{col 16}{res}{space 2}-.7520801{col 28}{space 2} .6542832{col 39}{space 1}   -1.15{col 48}{space 3}0.250{col 56}{space 4}-2.034452{col 69}{space 3} .5302913
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 245.2718{col 28}{space 2} 112.0582{col 39}{space 1}    2.19{col 48}{space 3}0.029{col 56}{space 4} 25.64169{col 69}{space 3} 464.9019
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0185777{col 28}{space 2} .0034609{col 39}{space 1}    5.37{col 48}{space 3}0.000{col 56}{space 4} .0117946{col 69}{space 3} .0253609
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1432361{col 28}{space 2}   .05674{col 39}{space 1}   -2.52{col 48}{space 3}0.012{col 56}{space 4}-.2544444{col 69}{space 3}-.0320278
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0631239{col 28}{space 2} .0793003{col 39}{space 1}    0.80{col 48}{space 3}0.426{col 56}{space 4}-.0923018{col 69}{space 3} .2185497
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000353{col 28}{space 2} 7.53e-06{col 39}{space 1}    4.69{col 48}{space 3}0.000{col 56}{space 4} .0000206{col 69}{space 3} .0000501
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0159536{col 28}{space 2} .0132886{col 39}{space 1}   -1.20{col 48}{space 3}0.230{col 56}{space 4}-.0419988{col 69}{space 3} .0100915
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0023241{col 28}{space 2} .0015696{col 39}{space 1}    1.48{col 48}{space 3}0.139{col 56}{space 4}-.0007523{col 69}{space 3} .0054006
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.398932{col 28}{space 2} .5265986{col 39}{space 1}   -2.66{col 48}{space 3}0.008{col 56}{space 4}-2.431046{col 69}{space 3}-.3668177
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.314105{col 28}{space 2} .4531086{col 39}{space 1}   -2.90{col 48}{space 3}0.004{col 56}{space 4}-2.202181{col 69}{space 3}-.4260283
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.467702{col 28}{space 2} .1955767{col 39}{space 1}   17.73{col 48}{space 3}0.000{col 56}{space 4} 3.084379{col 69}{space 3} 3.851025
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8653104{col 28}{space 2} .1138381{col 56}{space 4}-.9758474{col 69}{space 3}-.4019967
{txt}         sigma {c |}{col 16}{res}{space 2} 32.06297{col 28}{space 2} 6.270771{col 56}{space 4} 21.85388{col 69}{space 3} 47.04126
{txt}        lambda {c |}{col 16}{res}{space 2}-27.74442{col 28}{space 2} 8.793526{col 56}{space 4}-44.97942{col 69}{space 3}-10.50943
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    8.41   {txt}Prob > chi2 = {res}0.0037
{txt}
{com}. est store MODELA46, title((A46))
{txt}
{com}. estout MODELA41 MODELA42 MODELA43 MODELA44 MODELA45 MODELA46, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea11.tex", replace style(tex)
{res}{txt}(note: file tablea11.tex not found)
(output written to {browse  `"tablea11.tex"'})

{com}. 
. *Table A12
. heckman haircut persrank if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg e_persrank rightgov leftgov logpop) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-369.54524}  
Iteration 1:{space 3}log pseudolikelihood = {res:-368.32607}  
Iteration 2:{space 3}log pseudolikelihood = {res:-368.31122}  
Iteration 3:{space 3}log pseudolikelihood = {res:-368.31121}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,069
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,023

                                                {txt}Wald chi2({res}1{txt})      =  {res}     3.31
{txt}Log pseudolikelihood = {res}-368.3112                {txt}Prob > chi2       =     {res}0.0687

{txt}{ralign 80:(Std. Err. adjusted for {res:56} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.572042{col 28}{space 2} 1.412775{col 39}{space 1}   -1.82{col 48}{space 3}0.069{col 56}{space 4}-5.341031{col 69}{space 3} .1969466
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 94.67509{col 28}{space 2} 16.17857{col 39}{space 1}    5.85{col 48}{space 3}0.000{col 56}{space 4} 62.96567{col 69}{space 3} 126.3845
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0158617{col 28}{space 2} .0042669{col 39}{space 1}    3.72{col 48}{space 3}0.000{col 56}{space 4} .0074987{col 69}{space 3} .0242246
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.2261199{col 28}{space 2}  .077247{col 39}{space 1}   -2.93{col 48}{space 3}0.003{col 56}{space 4}-.3775212{col 69}{space 3}-.0747186
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}  .005855{col 28}{space 2} .1189157{col 39}{space 1}    0.05{col 48}{space 3}0.961{col 56}{space 4}-.2272155{col 69}{space 3} .2389255
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000402{col 28}{space 2} 9.50e-06{col 39}{space 1}    4.23{col 48}{space 3}0.000{col 56}{space 4} .0000216{col 69}{space 3} .0000588
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0080477{col 28}{space 2} .0192153{col 39}{space 1}   -0.42{col 48}{space 3}0.675{col 56}{space 4} -.045709{col 69}{space 3} .0296136
{txt}{space 12}cg {c |}{col 16}{res}{space 2}  .003132{col 28}{space 2} .0015668{col 39}{space 1}    2.00{col 48}{space 3}0.046{col 56}{space 4}  .000061{col 69}{space 3} .0062029
{txt}{space 4}e_persrank {c |}{col 16}{res}{space 2}-.0470298{col 28}{space 2} .0245839{col 39}{space 1}   -1.91{col 48}{space 3}0.056{col 56}{space 4}-.0952133{col 69}{space 3} .0011538
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} .4516049{col 28}{space 2}   .24166{col 39}{space 1}    1.87{col 48}{space 3}0.062{col 56}{space 4}  -.02204{col 69}{space 3} .9252499
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} .4868824{col 28}{space 2} .2175977{col 39}{space 1}    2.24{col 48}{space 3}0.025{col 56}{space 4} .0603986{col 69}{space 3} .9133661
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}  .128344{col 28}{space 2} .0769551{col 39}{space 1}    1.67{col 48}{space 3}0.095{col 56}{space 4}-.0224853{col 69}{space 3} .2791733
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-2.568826{col 28}{space 2} 1.741403{col 39}{space 1}   -1.48{col 48}{space 3}0.140{col 56}{space 4}-5.981912{col 69}{space 3}   .84426
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-.9977986{col 28}{space 2} .2885535{col 39}{space 1}   -3.46{col 48}{space 3}0.001{col 56}{space 4}-1.563353{col 69}{space 3}-.4322441
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.490628{col 28}{space 2} .1921919{col 39}{space 1}   18.16{col 48}{space 3}0.000{col 56}{space 4} 3.113939{col 69}{space 3} 3.867317
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.7606681{col 28}{space 2} .1215919{col 56}{space 4} -.915962{col 69}{space 3} -.407195
{txt}         sigma {c |}{col 16}{res}{space 2} 32.80654{col 28}{space 2} 6.305152{col 56}{space 4} 22.50953{col 69}{space 3} 47.81393
{txt}        lambda {c |}{col 16}{res}{space 2}-24.95489{col 28}{space 2} 8.351264{col 56}{space 4}-41.32306{col 69}{space 3}-8.586711
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   11.96   {txt}Prob > chi2 = {res}0.0005
{txt}
{com}. est store MODELA47, title((A47))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg e_persrank rightgov leftgov logpop) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-362.11611}  
Iteration 1:{space 3}log pseudolikelihood = {res:-361.07938}  
Iteration 2:{space 3}log pseudolikelihood = {res:-360.95871}  
Iteration 3:{space 3}log pseudolikelihood = {res:-360.95809}  
Iteration 4:{space 3}log pseudolikelihood = {res:-360.95809}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,069
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,023

                                                {txt}Wald chi2({res}5{txt})      =  {res}    21.13
{txt}Log pseudolikelihood = {res}-360.9581                {txt}Prob > chi2       =     {res}0.0008

{txt}{ralign 80:(Std. Err. adjusted for {res:56} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.063911{col 28}{space 2} 1.204441{col 39}{space 1}   -2.54{col 48}{space 3}0.011{col 56}{space 4}-5.424572{col 69}{space 3}-.7032502
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-7.111329{col 28}{space 2} 14.33771{col 39}{space 1}   -0.50{col 48}{space 3}0.620{col 56}{space 4}-35.21272{col 69}{space 3} 20.99006
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 3.015646{col 28}{space 2} 16.32274{col 39}{space 1}    0.18{col 48}{space 3}0.853{col 56}{space 4}-28.97633{col 69}{space 3} 35.00762
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}  -16.781{col 28}{space 2} 5.656403{col 39}{space 1}   -2.97{col 48}{space 3}0.003{col 56}{space 4}-27.86734{col 69}{space 3}-5.694654
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.431038{col 28}{space 2} 4.203479{col 39}{space 1}   -0.34{col 48}{space 3}0.734{col 56}{space 4}-9.669706{col 69}{space 3} 6.807631
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 243.6453{col 28}{space 2} 94.70529{col 39}{space 1}    2.57{col 48}{space 3}0.010{col 56}{space 4} 58.02636{col 69}{space 3} 429.2643
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0176773{col 28}{space 2} .0041366{col 39}{space 1}    4.27{col 48}{space 3}0.000{col 56}{space 4} .0095697{col 69}{space 3} .0257848
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.2301063{col 28}{space 2} .0792494{col 39}{space 1}   -2.90{col 48}{space 3}0.004{col 56}{space 4}-.3854322{col 69}{space 3}-.0747803
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0637783{col 28}{space 2} .1099886{col 39}{space 1}    0.58{col 48}{space 3}0.562{col 56}{space 4}-.1517955{col 69}{space 3}  .279352
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000384{col 28}{space 2} 9.52e-06{col 39}{space 1}    4.03{col 48}{space 3}0.000{col 56}{space 4} .0000197{col 69}{space 3}  .000057
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0063495{col 28}{space 2} .0167142{col 39}{space 1}   -0.38{col 48}{space 3}0.704{col 56}{space 4}-.0391088{col 69}{space 3} .0264097
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0026425{col 28}{space 2} .0017467{col 39}{space 1}    1.51{col 48}{space 3}0.130{col 56}{space 4}-.0007809{col 69}{space 3} .0060659
{txt}{space 4}e_persrank {c |}{col 16}{res}{space 2}-.0422782{col 28}{space 2} .0241419{col 39}{space 1}   -1.75{col 48}{space 3}0.080{col 56}{space 4}-.0895955{col 69}{space 3} .0050392
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}  .440008{col 28}{space 2} .2990837{col 39}{space 1}    1.47{col 48}{space 3}0.141{col 56}{space 4}-.1461853{col 69}{space 3} 1.026201
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} .4097726{col 28}{space 2}  .279128{col 39}{space 1}    1.47{col 48}{space 3}0.142{col 56}{space 4}-.1373082{col 69}{space 3} .9568534
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}  .135566{col 28}{space 2} .0793142{col 39}{space 1}    1.71{col 48}{space 3}0.087{col 56}{space 4} -.019887{col 69}{space 3}  .291019
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-3.054761{col 28}{space 2} 1.654978{col 39}{space 1}   -1.85{col 48}{space 3}0.065{col 56}{space 4}-6.298458{col 69}{space 3} .1889357
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.088324{col 28}{space 2} .2344477{col 39}{space 1}   -4.64{col 48}{space 3}0.000{col 56}{space 4}-1.547833{col 69}{space 3}-.6288146
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.381986{col 28}{space 2} .1349518{col 39}{space 1}   25.06{col 48}{space 3}0.000{col 56}{space 4} 3.117485{col 69}{space 3} 3.646486
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.7962655{col 28}{space 2} .0857988{col 56}{space 4}-.9134272{col 69}{space 3}-.5572355
{txt}         sigma {c |}{col 16}{res}{space 2} 29.42915{col 28}{space 2} 3.971518{col 56}{space 4}  22.5895{col 69}{space 3} 38.33972
{txt}        lambda {c |}{col 16}{res}{space 2}-23.43342{col 28}{space 2}  5.35422{col 56}{space 4} -33.9275{col 69}{space 3}-12.93934
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   21.55   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA48, title((A48))
{txt}
{com}. heckman haircut persrank pr rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg e_persrank rightgov leftgov logpop) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-361.40873}  
Iteration 1:{space 3}log pseudolikelihood = {res:-360.87679}  
Iteration 2:{space 3}log pseudolikelihood = {res:-360.05006}  
Iteration 3:{space 3}log pseudolikelihood = {res:-360.04414}  
Iteration 4:{space 3}log pseudolikelihood = {res:-360.04414}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,069
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,023

                                                {txt}Wald chi2({res}6{txt})      =  {res}    22.86
{txt}Log pseudolikelihood = {res}-360.0441                {txt}Prob > chi2       =     {res}0.0008

{txt}{ralign 80:(Std. Err. adjusted for {res:56} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-4.558872{col 28}{space 2} 1.574438{col 39}{space 1}   -2.90{col 48}{space 3}0.004{col 56}{space 4}-7.644714{col 69}{space 3} -1.47303
{txt}{space 12}pr {c |}{col 16}{res}{space 2} -18.5999{col 28}{space 2} 13.32558{col 39}{space 1}   -1.40{col 48}{space 3}0.163{col 56}{space 4}-44.71756{col 69}{space 3} 7.517764
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-3.896052{col 28}{space 2} 13.92297{col 39}{space 1}   -0.28{col 48}{space 3}0.780{col 56}{space 4}-31.18457{col 69}{space 3} 23.39246
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 5.060729{col 28}{space 2} 16.99911{col 39}{space 1}    0.30{col 48}{space 3}0.766{col 56}{space 4}-28.25691{col 69}{space 3} 38.37836
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-17.41908{col 28}{space 2} 5.190595{col 39}{space 1}   -3.36{col 48}{space 3}0.001{col 56}{space 4}-27.59246{col 69}{space 3}-7.245701
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} 1.206022{col 28}{space 2} 4.728034{col 39}{space 1}    0.26{col 48}{space 3}0.799{col 56}{space 4}-8.060755{col 69}{space 3}  10.4728
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 227.4704{col 28}{space 2} 96.16683{col 39}{space 1}    2.37{col 48}{space 3}0.018{col 56}{space 4} 38.98683{col 69}{space 3} 415.9539
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0174616{col 28}{space 2} .0042612{col 39}{space 1}    4.10{col 48}{space 3}0.000{col 56}{space 4} .0091098{col 69}{space 3} .0258133
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.2284939{col 28}{space 2} .0803952{col 39}{space 1}   -2.84{col 48}{space 3}0.004{col 56}{space 4}-.3860657{col 69}{space 3}-.0709221
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0605509{col 28}{space 2} .1111121{col 39}{space 1}    0.54{col 48}{space 3}0.586{col 56}{space 4}-.1572247{col 69}{space 3} .2783266
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000402{col 28}{space 2} 8.72e-06{col 39}{space 1}    4.61{col 48}{space 3}0.000{col 56}{space 4} .0000231{col 69}{space 3} .0000573
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0053645{col 28}{space 2} .0156724{col 39}{space 1}   -0.34{col 48}{space 3}0.732{col 56}{space 4}-.0360818{col 69}{space 3} .0253528
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0024686{col 28}{space 2} .0017995{col 39}{space 1}    1.37{col 48}{space 3}0.170{col 56}{space 4}-.0010583{col 69}{space 3} .0059955
{txt}{space 4}e_persrank {c |}{col 16}{res}{space 2} -.042992{col 28}{space 2} .0245212{col 39}{space 1}   -1.75{col 48}{space 3}0.080{col 56}{space 4}-.0910526{col 69}{space 3} .0050687
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} .4452311{col 28}{space 2} .3010643{col 39}{space 1}    1.48{col 48}{space 3}0.139{col 56}{space 4}-.1448441{col 69}{space 3} 1.035306
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} .4202261{col 28}{space 2} .2772536{col 39}{space 1}    1.52{col 48}{space 3}0.130{col 56}{space 4} -.123181{col 69}{space 3} .9636332
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} .1329509{col 28}{space 2} .0794917{col 39}{space 1}    1.67{col 48}{space 3}0.094{col 56}{space 4}-.0228501{col 69}{space 3} .2887518
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-2.993632{col 28}{space 2} 1.657266{col 39}{space 1}   -1.81{col 48}{space 3}0.071{col 56}{space 4}-6.241814{col 69}{space 3} .2545496
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.166734{col 28}{space 2} .3103519{col 39}{space 1}   -3.76{col 48}{space 3}0.000{col 56}{space 4}-1.775013{col 69}{space 3}-.5584557
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.399373{col 28}{space 2} .1494762{col 39}{space 1}   22.74{col 48}{space 3}0.000{col 56}{space 4} 3.106405{col 69}{space 3} 3.692341
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8232224{col 28}{space 2} .1000279{col 56}{space 4}-.9441562{col 69}{space 3}-.5068307
{txt}         sigma {c |}{col 16}{res}{space 2} 29.94532{col 28}{space 2} 4.476112{col 56}{space 4} 22.34059{col 69}{space 3}  40.1387
{txt}        lambda {c |}{col 16}{res}{space 2}-24.65166{col 28}{space 2} 6.344533{col 56}{space 4}-37.08671{col 69}{space 3} -12.2166
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   14.13   {txt}Prob > chi2 = {res}0.0002
{txt}
{com}. est store MODELA49, title((A49))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop region1 region2 region3 region4 region5 region6 region7 region8 region9 region10 region11 region12 region13 region14 region15 region16 region17 region18 region19 region20 region21 region22 if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg e_persrank rightgov leftgov logpop) vce(cluster ccode)
{txt}note: region1 omitted because of collinearity
note: region4 omitted because of collinearity
note: region6 omitted because of collinearity
note: region8 omitted because of collinearity
note: region9 omitted because of collinearity
note: region10 omitted because of collinearity
note: region11 omitted because of collinearity
note: region12 omitted because of collinearity
note: region13 omitted because of collinearity
note: region14 omitted because of collinearity
note: region16 omitted because of collinearity
note: region17 omitted because of collinearity
note: region18 omitted because of collinearity
note: region19 omitted because of collinearity
note: region20 omitted because of collinearity
note: region21 omitted because of collinearity
note: region22 omitted because of collinearity
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-359.15847}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-354.40329}  
Iteration 2:{space 3}log pseudolikelihood = {res:-353.72418}  
Iteration 3:{space 3}log pseudolikelihood = {res:-352.94773}  
Iteration 4:{space 3}log pseudolikelihood = {res:-352.91564}  
Iteration 5:{space 3}log pseudolikelihood = {res: -352.9156}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,069
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,023

{col 49}{help j_robustsingular##|_new:Wald chi2(9){col 68}= }{col 70}        .
{txt}Log pseudolikelihood = {res}-352.9156                {txt}Prob > chi2       =     {res}     .

{txt}{ralign 80:(Std. Err. adjusted for {res:56} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.693865{col 28}{space 2} 1.215282{col 39}{space 1}   -2.22{col 48}{space 3}0.027{col 56}{space 4}-5.075773{col 69}{space 3}-.3119564
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}-5.755491{col 28}{space 2} 13.65142{col 39}{space 1}   -0.42{col 48}{space 3}0.673{col 56}{space 4}-32.51178{col 69}{space 3}  21.0008
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2}-.8724166{col 28}{space 2} 18.73644{col 39}{space 1}   -0.05{col 48}{space 3}0.963{col 56}{space 4}-37.59515{col 69}{space 3} 35.85032
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-11.34774{col 28}{space 2} 7.337654{col 39}{space 1}   -1.55{col 48}{space 3}0.122{col 56}{space 4}-25.72927{col 69}{space 3} 3.033801
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.510956{col 28}{space 2} 5.325733{col 39}{space 1}   -0.28{col 48}{space 3}0.777{col 56}{space 4} -11.9492{col 69}{space 3} 8.927288
{txt}{space 7}region1 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region2 {c |}{col 16}{res}{space 2} 3.805323{col 28}{space 2} 14.73406{col 39}{space 1}    0.26{col 48}{space 3}0.796{col 56}{space 4}-25.07291{col 69}{space 3} 32.68355
{txt}{space 7}region3 {c |}{col 16}{res}{space 2} 31.06681{col 28}{space 2} 23.75322{col 39}{space 1}    1.31{col 48}{space 3}0.191{col 56}{space 4}-15.48864{col 69}{space 3} 77.62227
{txt}{space 7}region4 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region5 {c |}{col 16}{res}{space 2} 67.11199{col 28}{space 2} 23.01138{col 39}{space 1}    2.92{col 48}{space 3}0.004{col 56}{space 4} 22.01051{col 69}{space 3} 112.2135
{txt}{space 7}region6 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region7 {c |}{col 16}{res}{space 2} 2.691702{col 28}{space 2}  21.3268{col 39}{space 1}    0.13{col 48}{space 3}0.900{col 56}{space 4}-39.10807{col 69}{space 3} 44.49147
{txt}{space 7}region8 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region9 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region10 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region11 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region12 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region13 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region14 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region15 {c |}{col 16}{res}{space 2} 6.964682{col 28}{space 2} 17.33404{col 39}{space 1}    0.40{col 48}{space 3}0.688{col 56}{space 4} -27.0094{col 69}{space 3} 40.93877
{txt}{space 6}region16 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region17 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region18 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region19 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region20 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region21 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region22 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 9}_cons {c |}{col 16}{res}{space 2} 199.7926{col 28}{space 2} 97.93101{col 39}{space 1}    2.04{col 48}{space 3}0.041{col 56}{space 4} 7.851393{col 69}{space 3} 391.7339
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0165441{col 28}{space 2} .0049599{col 39}{space 1}    3.34{col 48}{space 3}0.001{col 56}{space 4} .0068229{col 69}{space 3} .0262653
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.2210009{col 28}{space 2} .0830829{col 39}{space 1}   -2.66{col 48}{space 3}0.008{col 56}{space 4}-.3838403{col 69}{space 3}-.0581615
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0724292{col 28}{space 2}  .105587{col 39}{space 1}    0.69{col 48}{space 3}0.493{col 56}{space 4}-.1345174{col 69}{space 3} .2793758
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000373{col 28}{space 2} 9.24e-06{col 39}{space 1}    4.03{col 48}{space 3}0.000{col 56}{space 4} .0000192{col 69}{space 3} .0000554
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} .0058086{col 28}{space 2} .0126679{col 39}{space 1}    0.46{col 48}{space 3}0.647{col 56}{space 4}-.0190201{col 69}{space 3} .0306373
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0037691{col 28}{space 2} .0014517{col 39}{space 1}    2.60{col 48}{space 3}0.009{col 56}{space 4} .0009239{col 69}{space 3} .0066143
{txt}{space 4}e_persrank {c |}{col 16}{res}{space 2}-.0437824{col 28}{space 2} .0232367{col 39}{space 1}   -1.88{col 48}{space 3}0.060{col 56}{space 4}-.0893255{col 69}{space 3} .0017607
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} .4343744{col 28}{space 2} .3024227{col 39}{space 1}    1.44{col 48}{space 3}0.151{col 56}{space 4}-.1583631{col 69}{space 3} 1.027112
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} .4126754{col 28}{space 2} .2785837{col 39}{space 1}    1.48{col 48}{space 3}0.139{col 56}{space 4}-.1333386{col 69}{space 3} .9586893
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} .1437917{col 28}{space 2} .0802001{col 39}{space 1}    1.79{col 48}{space 3}0.073{col 56}{space 4}-.0133975{col 69}{space 3}  .300981
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-3.414362{col 28}{space 2} 1.596239{col 39}{space 1}   -2.14{col 48}{space 3}0.032{col 56}{space 4}-6.542934{col 69}{space 3}-.2857904
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.450047{col 28}{space 2}  .375332{col 39}{space 1}   -3.86{col 48}{space 3}0.000{col 56}{space 4}-2.185684{col 69}{space 3}-.7144098
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.393461{col 28}{space 2} .1377278{col 39}{space 1}   24.64{col 48}{space 3}0.000{col 56}{space 4} 3.123519{col 69}{space 3} 3.663403
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8957022{col 28}{space 2} .0742097{col 56}{space 4}-.9750474{col 69}{space 3}-.6134347
{txt}         sigma {c |}{col 16}{res}{space 2}  29.7688{col 28}{space 2} 4.099993{col 56}{space 4} 22.72622{col 69}{space 3}  38.9938
{txt}        lambda {c |}{col 16}{res}{space 2}-26.66398{col 28}{space 2} 5.580632{col 56}{space 4}-37.60182{col 69}{space 3}-15.72614
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   14.93   {txt}Prob > chi2 = {res}0.0001
{txt}
{com}. est store MODELA50, title((A50))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop debtrestructured brady newmoney if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg e_persrank rightgov leftgov logpop) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-359.51095}  
Iteration 1:{space 3}log pseudolikelihood = {res:-358.79245}  
Iteration 2:{space 3}log pseudolikelihood = {res:-358.77994}  
Iteration 3:{space 3}log pseudolikelihood = {res:-358.77989}  
Iteration 4:{space 3}log pseudolikelihood = {res:-358.77989}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,069
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,023

                                                {txt}Wald chi2({res}8{txt})      =  {res}    38.76
{txt}Log pseudolikelihood = {res}-358.7799                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 82:(Std. Err. adjusted for {res:56} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut          {txt}{c |}
{space 8}persrank {c |}{col 18}{res}{space 2}-2.888492{col 30}{space 2} 1.092348{col 41}{space 1}   -2.64{col 50}{space 3}0.008{col 58}{space 4}-5.029456{col 71}{space 3}-.7475288
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2}-15.63199{col 30}{space 2} 12.95214{col 41}{space 1}   -1.21{col 50}{space 3}0.227{col 58}{space 4}-41.01773{col 71}{space 3}  9.75374
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2}-6.455897{col 30}{space 2}   15.365{col 41}{space 1}   -0.42{col 50}{space 3}0.674{col 58}{space 4}-36.57075{col 71}{space 3} 23.65895
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-21.79459{col 30}{space 2} 6.294628{col 41}{space 1}   -3.46{col 50}{space 3}0.001{col 58}{space 4}-34.13183{col 71}{space 3}-9.457343
{txt}{space 10}logpop {c |}{col 18}{res}{space 2} -4.02468{col 30}{space 2} 4.045674{col 41}{space 1}   -0.99{col 50}{space 3}0.320{col 58}{space 4}-11.95406{col 71}{space 3} 3.904695
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0001999{col 30}{space 2} .0000888{col 41}{space 1}    2.25{col 50}{space 3}0.024{col 58}{space 4} .0000259{col 71}{space 3} .0003739
{txt}{space 11}brady {c |}{col 18}{res}{space 2} 16.14596{col 30}{space 2} 6.703402{col 41}{space 1}    2.41{col 50}{space 3}0.016{col 58}{space 4}  3.00753{col 71}{space 3} 29.28438
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-7.916518{col 30}{space 2} 4.348396{col 41}{space 1}   -1.82{col 50}{space 3}0.069{col 58}{space 4}-16.43922{col 71}{space 3} .6061821
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 313.5546{col 30}{space 2} 95.45871{col 41}{space 1}    3.28{col 50}{space 3}0.001{col 58}{space 4}  126.459{col 71}{space 3} 500.6502
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select           {txt}{c |}
{space 10}total2 {c |}{col 18}{res}{space 2} .0174044{col 30}{space 2} .0041715{col 41}{space 1}    4.17{col 50}{space 3}0.000{col 58}{space 4} .0092283{col 71}{space 3} .0255805
{txt}{space 8}logforex {c |}{col 18}{res}{space 2}-.2497931{col 30}{space 2} .0765272{col 41}{space 1}   -3.26{col 50}{space 3}0.001{col 58}{space 4}-.3997835{col 71}{space 3}-.0998026
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2} .0935332{col 30}{space 2} .1060056{col 41}{space 1}    0.88{col 50}{space 3}0.378{col 58}{space 4}-.1142341{col 71}{space 3} .3013004
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} .0000411{col 30}{space 2} .0000102{col 41}{space 1}    4.04{col 50}{space 3}0.000{col 58}{space 4} .0000212{col 71}{space 3} .0000611
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.0049966{col 30}{space 2} .0166432{col 41}{space 1}   -0.30{col 50}{space 3}0.764{col 58}{space 4}-.0376167{col 71}{space 3} .0276235
{txt}{space 14}cg {c |}{col 18}{res}{space 2}  .002788{col 30}{space 2} .0017896{col 41}{space 1}    1.56{col 50}{space 3}0.119{col 58}{space 4}-.0007195{col 71}{space 3} .0062954
{txt}{space 6}e_persrank {c |}{col 18}{res}{space 2}-.0425091{col 30}{space 2} .0239799{col 41}{space 1}   -1.77{col 50}{space 3}0.076{col 58}{space 4}-.0895087{col 71}{space 3} .0044906
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2} .4450391{col 30}{space 2} .3034895{col 41}{space 1}    1.47{col 50}{space 3}0.143{col 58}{space 4}-.1497895{col 71}{space 3} 1.039868
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} .4184295{col 30}{space 2}  .283398{col 41}{space 1}    1.48{col 50}{space 3}0.140{col 58}{space 4}-.1370204{col 71}{space 3} .9738794
{txt}{space 10}logpop {c |}{col 18}{res}{space 2} .1538307{col 30}{space 2} .0776056{col 41}{space 1}    1.98{col 50}{space 3}0.047{col 58}{space 4} .0017266{col 71}{space 3} .3059348
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-3.444174{col 30}{space 2} 1.621394{col 41}{space 1}   -2.12{col 50}{space 3}0.034{col 58}{space 4}-6.622047{col 71}{space 3}-.2663007
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}/athrho {c |}{col 18}{res}{space 2}-.8419228{col 30}{space 2}  .361239{col 41}{space 1}   -2.33{col 50}{space 3}0.020{col 58}{space 4}-1.549938{col 71}{space 3}-.1339074
{txt}{space 8}/lnsigma {c |}{col 18}{res}{space 2} 3.201207{col 30}{space 2} .1835791{col 41}{space 1}   17.44{col 50}{space 3}0.000{col 58}{space 4} 2.841398{col 71}{space 3} 3.561015
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             rho {c |}{col 18}{res}{space 2}-.6868261{col 30}{space 2} .1908317{col 58}{space 4}-.9137753{col 71}{space 3}-.1331127
{txt}           sigma {c |}{col 18}{res}{space 2} 24.56215{col 30}{space 2} 4.509099{col 58}{space 4} 17.13971{col 71}{space 3} 35.19892
{txt}          lambda {c |}{col 18}{res}{space 2}-16.86993{col 30}{space 2} 7.520799{col 58}{space 4}-31.61042{col 71}{space 3}-2.129433
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    5.43   {txt}Prob > chi2 = {res}0.0198
{txt}
{com}. est store MODELA51, title((A51))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop imports_gdp exports_gdp if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth cg e_persrank rightgov leftgov logpop) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-361.01614}  
Iteration 1:{space 3}log pseudolikelihood = {res:-360.30667}  
Iteration 2:{space 3}log pseudolikelihood = {res:-359.52943}  
Iteration 3:{space 3}log pseudolikelihood = {res:-359.52581}  
Iteration 4:{space 3}log pseudolikelihood = {res:-359.52581}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,069
{txt}(regression model with sample selection)              Selected    = {res}        46
                                                {txt}      Nonselected = {res}     1,023

                                                {txt}Wald chi2({res}7{txt})      =  {res}    19.90
{txt}Log pseudolikelihood = {res}-359.5258                {txt}Prob > chi2       =     {res}0.0058

{txt}{ralign 80:(Std. Err. adjusted for {res:56} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.489592{col 28}{space 2} 1.354954{col 39}{space 1}   -1.84{col 48}{space 3}0.066{col 56}{space 4}-5.145252{col 69}{space 3} .1660687
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} -6.54861{col 28}{space 2}  14.1935{col 39}{space 1}   -0.46{col 48}{space 3}0.645{col 56}{space 4}-34.36736{col 69}{space 3} 21.27014
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 3.305023{col 28}{space 2} 15.46257{col 39}{space 1}    0.21{col 48}{space 3}0.831{col 56}{space 4}-27.00105{col 69}{space 3}  33.6111
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-15.53608{col 28}{space 2} 7.004783{col 39}{space 1}   -2.22{col 48}{space 3}0.027{col 56}{space 4} -29.2652{col 69}{space 3}-1.806953
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-1.181857{col 28}{space 2} 4.556102{col 39}{space 1}   -0.26{col 48}{space 3}0.795{col 56}{space 4}-10.11165{col 69}{space 3} 7.747938
{txt}{space 3}imports_gdp {c |}{col 16}{res}{space 2} .6296502{col 28}{space 2} .5729964{col 39}{space 1}    1.10{col 48}{space 3}0.272{col 56}{space 4}-.4934021{col 69}{space 3} 1.752702
{txt}{space 3}exports_gdp {c |}{col 16}{res}{space 2}-.7655428{col 28}{space 2} .6767205{col 39}{space 1}   -1.13{col 48}{space 3}0.258{col 56}{space 4}-2.091891{col 69}{space 3} .5608049
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 236.7682{col 28}{space 2} 125.2833{col 39}{space 1}    1.89{col 48}{space 3}0.059{col 56}{space 4}-8.782614{col 69}{space 3}  482.319
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0174326{col 28}{space 2} .0040547{col 39}{space 1}    4.30{col 48}{space 3}0.000{col 56}{space 4} .0094855{col 69}{space 3} .0253796
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.2162794{col 28}{space 2} .1010917{col 39}{space 1}   -2.14{col 48}{space 3}0.032{col 56}{space 4}-.4144155{col 69}{space 3}-.0181432
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0486357{col 28}{space 2} .1324546{col 39}{space 1}    0.37{col 48}{space 3}0.713{col 56}{space 4}-.2109705{col 69}{space 3} .3082418
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000417{col 28}{space 2} 9.82e-06{col 39}{space 1}    4.24{col 48}{space 3}0.000{col 56}{space 4} .0000224{col 69}{space 3} .0000609
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0090877{col 28}{space 2} .0172663{col 39}{space 1}   -0.53{col 48}{space 3}0.599{col 56}{space 4}-.0429291{col 69}{space 3} .0247536
{txt}{space 12}cg {c |}{col 16}{res}{space 2} .0024471{col 28}{space 2} .0020293{col 39}{space 1}    1.21{col 48}{space 3}0.228{col 56}{space 4}-.0015302{col 69}{space 3} .0064245
{txt}{space 4}e_persrank {c |}{col 16}{res}{space 2}-.0429977{col 28}{space 2} .0244347{col 39}{space 1}   -1.76{col 48}{space 3}0.078{col 56}{space 4}-.0908887{col 69}{space 3} .0048934
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} .4471391{col 28}{space 2} .3028845{col 39}{space 1}    1.48{col 48}{space 3}0.140{col 56}{space 4}-.1465036{col 69}{space 3} 1.040782
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} .4264509{col 28}{space 2} .2796537{col 39}{space 1}    1.52{col 48}{space 3}0.127{col 56}{space 4}-.1216603{col 69}{space 3} .9745621
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} .1209136{col 28}{space 2}  .093145{col 39}{space 1}    1.30{col 48}{space 3}0.194{col 56}{space 4}-.0616473{col 69}{space 3} .3034746
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-2.787367{col 28}{space 2} 1.950207{col 39}{space 1}   -1.43{col 48}{space 3}0.153{col 56}{space 4}-6.609702{col 69}{space 3} 1.034969
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.264379{col 28}{space 2} .5239287{col 39}{space 1}   -2.41{col 48}{space 3}0.016{col 56}{space 4} -2.29126{col 69}{space 3}-.2374971
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.431092{col 28}{space 2} .2212415{col 39}{space 1}   15.51{col 48}{space 3}0.000{col 56}{space 4} 2.997466{col 69}{space 3} 3.864717
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8522667{col 28}{space 2} .1433686{col 56}{space 4} -.979749{col 69}{space 3}-.2331303
{txt}         sigma {c |}{col 16}{res}{space 2} 30.91037{col 28}{space 2} 6.838658{col 56}{space 4} 20.03471{col 69}{space 3} 47.68978
{txt}        lambda {c |}{col 16}{res}{space 2}-26.34388{col 28}{space 2} 10.00863{col 56}{space 4}-45.96043{col 69}{space 3}-6.727334
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    5.82   {txt}Prob > chi2 = {res}0.0158
{txt}
{com}. est store MODELA52, title((A52))
{txt}
{com}. estout MODELA47 MODELA48 MODELA49 MODELA50 MODELA51 MODELA52, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea12.tex", replace style(tex)
{res}{txt}(note: file tablea12.tex not found)
(output written to {browse  `"tablea12.tex"'})

{com}. 
. *Table A13
. heckman haircut persrank rightgov leftgov loggdppc logpop if democracy==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-459.60932}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-452.61856}  
Iteration 2:{space 3}log pseudolikelihood = {res:-451.99914}  (not concave)
Iteration 3:{space 3}log pseudolikelihood = {res:-450.73703}  
Iteration 4:{space 3}log pseudolikelihood = {res:-450.45639}  
Iteration 5:{space 3}log pseudolikelihood = {res:-449.79905}  
Iteration 6:{space 3}log pseudolikelihood = {res:-449.62758}  
Iteration 7:{space 3}log pseudolikelihood = {res:-449.62608}  
Iteration 8:{space 3}log pseudolikelihood = {res:-449.62608}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,549
{txt}(regression model with sample selection)              Selected    = {res}        52
                                                {txt}      Nonselected = {res}     1,497

                                                {txt}Wald chi2({res}5{txt})      =  {res}    21.68
{txt}Log pseudolikelihood = {res}-449.6261                {txt}Prob > chi2       =     {res}0.0006

{txt}{ralign 80:(Std. Err. adjusted for {res:83} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.083986{col 28}{space 2} 1.054234{col 39}{space 1}   -2.93{col 48}{space 3}0.003{col 56}{space 4}-5.150247{col 69}{space 3}-1.017725
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 5.803031{col 28}{space 2} 9.826184{col 39}{space 1}    0.59{col 48}{space 3}0.555{col 56}{space 4}-13.45594{col 69}{space 3}   25.062
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 5.654179{col 28}{space 2} 11.78017{col 39}{space 1}    0.48{col 48}{space 3}0.631{col 56}{space 4}-17.43454{col 69}{space 3} 28.74289
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-20.11768{col 28}{space 2} 7.132077{col 39}{space 1}   -2.82{col 48}{space 3}0.005{col 56}{space 4} -34.0963{col 69}{space 3}-6.139067
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-5.648128{col 28}{space 2} 4.005076{col 39}{space 1}   -1.41{col 48}{space 3}0.158{col 56}{space 4}-13.49793{col 69}{space 3} 2.201677
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 347.7249{col 28}{space 2} 123.1478{col 39}{space 1}    2.82{col 48}{space 3}0.005{col 56}{space 4} 106.3597{col 69}{space 3}   589.09
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0186934{col 28}{space 2} .0034476{col 39}{space 1}    5.42{col 48}{space 3}0.000{col 56}{space 4} .0119363{col 69}{space 3} .0254505
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.0280204{col 28}{space 2} .0339556{col 39}{space 1}   -0.83{col 48}{space 3}0.409{col 56}{space 4}-.0945721{col 69}{space 3} .0385314
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-.0130428{col 28}{space 2} .0598431{col 39}{space 1}   -0.22{col 48}{space 3}0.827{col 56}{space 4}-.1303331{col 69}{space 3} .1042475
{txt}currentaccount {c |}{col 16}{res}{space 2} 8.47e-06{col 28}{space 2} .0000118{col 39}{space 1}    0.72{col 48}{space 3}0.473{col 56}{space 4}-.0000147{col 69}{space 3} .0000316
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} .0072891{col 28}{space 2} .0119569{col 39}{space 1}    0.61{col 48}{space 3}0.542{col 56}{space 4} -.016146{col 69}{space 3} .0307241
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.640905{col 28}{space 2} .4878438{col 39}{space 1}   -3.36{col 48}{space 3}0.001{col 56}{space 4}-2.597061{col 69}{space 3}-.6847484
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.291508{col 28}{space 2} .2866139{col 39}{space 1}   -4.51{col 48}{space 3}0.000{col 56}{space 4}-1.853261{col 69}{space 3}-.7297555
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2}  3.56702{col 28}{space 2} .1748058{col 39}{space 1}   20.41{col 48}{space 3}0.000{col 56}{space 4} 3.224407{col 69}{space 3} 3.909633
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8595211{col 28}{space 2} .0748703{col 56}{space 4}-.9520522{col 69}{space 3}-.6229157
{txt}         sigma {c |}{col 16}{res}{space 2} 35.41091{col 28}{space 2} 6.190032{col 56}{space 4} 25.13866{col 69}{space 3} 49.88064
{txt}        lambda {c |}{col 16}{res}{space 2}-30.43642{col 28}{space 2} 7.844613{col 56}{space 4}-45.81158{col 69}{space 3}-15.06127
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   20.30   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA53, title((A53))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop if FH=="F", select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-340.44284}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res: -336.8762}  
Iteration 2:{space 3}log pseudolikelihood = {res:-336.24176}  
Iteration 3:{space 3}log pseudolikelihood = {res:-336.22506}  
Iteration 4:{space 3}log pseudolikelihood = {res:-336.22504}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,218
{txt}(regression model with sample selection)              Selected    = {res}        40
                                                {txt}      Nonselected = {res}     1,178

                                                {txt}Wald chi2({res}5{txt})      =  {res}    24.44
{txt}Log pseudolikelihood = {res} -336.225                {txt}Prob > chi2       =     {res}0.0002

{txt}{ralign 80:(Std. Err. adjusted for {res:67} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.110722{col 28}{space 2} 1.013043{col 39}{space 1}   -3.07{col 48}{space 3}0.002{col 56}{space 4} -5.09625{col 69}{space 3}-1.125194
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 10.46366{col 28}{space 2}    10.34{col 39}{space 1}    1.01{col 48}{space 3}0.312{col 56}{space 4} -9.80237{col 69}{space 3}  30.7297
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 9.071292{col 28}{space 2} 11.86639{col 39}{space 1}    0.76{col 48}{space 3}0.445{col 56}{space 4} -14.1864{col 69}{space 3} 32.32898
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-15.41459{col 28}{space 2} 6.949271{col 39}{space 1}   -2.22{col 48}{space 3}0.027{col 56}{space 4}-29.03491{col 69}{space 3}-1.794271
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-5.262302{col 28}{space 2} 4.073699{col 39}{space 1}   -1.29{col 48}{space 3}0.196{col 56}{space 4}-13.24661{col 69}{space 3} 2.722002
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 296.0395{col 28}{space 2} 114.3379{col 39}{space 1}    2.59{col 48}{space 3}0.010{col 56}{space 4} 71.94138{col 69}{space 3} 520.1377
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0187339{col 28}{space 2} .0043835{col 39}{space 1}    4.27{col 48}{space 3}0.000{col 56}{space 4} .0101424{col 69}{space 3} .0273254
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.0210131{col 28}{space 2} .0380587{col 39}{space 1}   -0.55{col 48}{space 3}0.581{col 56}{space 4}-.0956067{col 69}{space 3} .0535805
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-.0961505{col 28}{space 2} .0693766{col 39}{space 1}   -1.39{col 48}{space 3}0.166{col 56}{space 4}-.2321261{col 69}{space 3} .0398251
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000279{col 28}{space 2} .0000264{col 39}{space 1}    1.06{col 48}{space 3}0.290{col 56}{space 4}-.0000238{col 69}{space 3} .0000797
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}  -.00552{col 28}{space 2} .0131525{col 39}{space 1}   -0.42{col 48}{space 3}0.675{col 56}{space 4}-.0312983{col 69}{space 3} .0202583
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-.9906019{col 28}{space 2} .6566019{col 39}{space 1}   -1.51{col 48}{space 3}0.131{col 56}{space 4}-2.277518{col 69}{space 3} .2963141
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.329719{col 28}{space 2} .2788922{col 39}{space 1}   -4.77{col 48}{space 3}0.000{col 56}{space 4}-1.876338{col 69}{space 3}-.7831007
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.474367{col 28}{space 2} .1493595{col 39}{space 1}   23.26{col 48}{space 3}0.000{col 56}{space 4} 3.181627{col 69}{space 3} 3.767106
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8691807{col 28}{space 2} .0681961{col 56}{space 4}-.9541653{col 69}{space 3}-.6544828
{txt}         sigma {c |}{col 16}{res}{space 2} 32.27738{col 28}{space 2} 4.820935{col 56}{space 4} 24.08592{col 69}{space 3}  43.2547
{txt}        lambda {c |}{col 16}{res}{space 2}-28.05488{col 28}{space 2} 6.274494{col 56}{space 4}-40.35266{col 69}{space 3}-15.75709
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   22.73   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA54, title((A54))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop if FH=="PF" | FH=="F", select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-587.86914}  
Iteration 1:{space 3}log pseudolikelihood = {res: -586.5824}  
Iteration 2:{space 3}log pseudolikelihood = {res:-586.56329}  
Iteration 3:{space 3}log pseudolikelihood = {res:-586.56328}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     2,700
{txt}(regression model with sample selection)              Selected    = {res}        67
                                                {txt}      Nonselected = {res}     2,633

                                                {txt}Wald chi2({res}5{txt})      =  {res}    36.43
{txt}Log pseudolikelihood = {res}-586.5633                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:120} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.528997{col 28}{space 2} 1.058199{col 39}{space 1}   -2.39{col 48}{space 3}0.017{col 56}{space 4}-4.603029{col 69}{space 3}-.4549661
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 8.941028{col 28}{space 2} 8.363121{col 39}{space 1}    1.07{col 48}{space 3}0.285{col 56}{space 4}-7.450388{col 69}{space 3} 25.33244
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 12.06427{col 28}{space 2} 10.59881{col 39}{space 1}    1.14{col 48}{space 3}0.255{col 56}{space 4}-8.709008{col 69}{space 3} 32.83756
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-21.27309{col 28}{space 2} 5.715206{col 39}{space 1}   -3.72{col 48}{space 3}0.000{col 56}{space 4}-32.47468{col 69}{space 3}-10.07149
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-5.038262{col 28}{space 2} 3.129942{col 39}{space 1}   -1.61{col 48}{space 3}0.107{col 56}{space 4}-11.17283{col 69}{space 3}  1.09631
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 330.7247{col 28}{space 2} 88.28672{col 39}{space 1}    3.75{col 48}{space 3}0.000{col 56}{space 4} 157.6859{col 69}{space 3} 503.7635
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0231766{col 28}{space 2}  .005339{col 39}{space 1}    4.34{col 48}{space 3}0.000{col 56}{space 4} .0127123{col 69}{space 3} .0336408
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.0072893{col 28}{space 2} .0298331{col 39}{space 1}   -0.24{col 48}{space 3}0.807{col 56}{space 4}-.0657611{col 69}{space 3} .0511825
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0351636{col 28}{space 2} .0480339{col 39}{space 1}    0.73{col 48}{space 3}0.464{col 56}{space 4}-.0589811{col 69}{space 3} .1293084
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000178{col 28}{space 2} 7.98e-06{col 39}{space 1}    2.24{col 48}{space 3}0.025{col 56}{space 4} 2.21e-06{col 69}{space 3} .0000335
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2} .0022047{col 28}{space 2} .0111193{col 39}{space 1}    0.20{col 48}{space 3}0.843{col 56}{space 4}-.0195888{col 69}{space 3} .0239983
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-2.280707{col 28}{space 2} .3625612{col 39}{space 1}   -6.29{col 48}{space 3}0.000{col 56}{space 4}-2.991314{col 69}{space 3}-1.570101
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-.9502636{col 28}{space 2} .1836868{col 39}{space 1}   -5.17{col 48}{space 3}0.000{col 56}{space 4}-1.310283{col 69}{space 3}-.5902441
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.446788{col 28}{space 2} .0871018{col 39}{space 1}   39.57{col 48}{space 3}0.000{col 56}{space 4} 3.276071{col 69}{space 3} 3.617504
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.7399024{col 28}{space 2} .0831265{col 56}{space 4} -.864347{col 69}{space 3}-.5300711
{txt}         sigma {c |}{col 16}{res}{space 2} 31.39937{col 28}{space 2} 2.734942{col 56}{space 4} 26.47157{col 69}{space 3} 37.24449
{txt}        lambda {c |}{col 16}{res}{space 2}-23.23247{col 28}{space 2} 4.421403{col 56}{space 4}-31.89826{col 69}{space 3}-14.56667
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   26.76   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA55, title((A55))
{txt}
{com}. estout MODELA53 MODELA54 MODELA55, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea13.tex", replace style(tex)
{res}{txt}(note: file tablea13.tex not found)
(output written to {browse  `"tablea13.tex"'})

{com}. 
. *Table A14
. heckman haircut persrank rightgov leftgov loggdppc logpop polity, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res: -634.4042}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res: -633.3936}  
Iteration 2:{space 3}log pseudolikelihood = {res: -632.6496}  
Iteration 3:{space 3}log pseudolikelihood = {res:-632.63154}  
Iteration 4:{space 3}log pseudolikelihood = {res:-632.63151}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     3,725
{txt}(regression model with sample selection)              Selected    = {res}        70
                                                {txt}      Nonselected = {res}     3,655

                                                {txt}Wald chi2({res}6{txt})      =  {res}    63.20
{txt}Log pseudolikelihood = {res}-632.6315                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:133} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.912372{col 28}{space 2} .9280619{col 39}{space 1}   -3.14{col 48}{space 3}0.002{col 56}{space 4} -4.73134{col 69}{space 3}-1.093404
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} .1686088{col 28}{space 2} 7.347531{col 39}{space 1}    0.02{col 48}{space 3}0.982{col 56}{space 4}-14.23229{col 69}{space 3}  14.5695
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2}  2.80236{col 28}{space 2} 10.24642{col 39}{space 1}    0.27{col 48}{space 3}0.784{col 56}{space 4}-17.28025{col 69}{space 3} 22.88497
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-25.55793{col 28}{space 2} 5.167532{col 39}{space 1}   -4.95{col 48}{space 3}0.000{col 56}{space 4}-35.68611{col 69}{space 3}-15.42975
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-6.767308{col 28}{space 2}  3.00702{col 39}{space 1}   -2.25{col 48}{space 3}0.024{col 56}{space 4}-12.66096{col 69}{space 3}-.8736566
{txt}{space 8}polity {c |}{col 16}{res}{space 2}-1.442967{col 28}{space 2} 1.168989{col 39}{space 1}   -1.23{col 48}{space 3}0.217{col 56}{space 4}-3.734143{col 69}{space 3}   .84821
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}  420.426{col 28}{space 2} 63.74362{col 39}{space 1}    6.60{col 48}{space 3}0.000{col 56}{space 4} 295.4908{col 69}{space 3} 545.3612
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2}  .022166{col 28}{space 2} .0045101{col 39}{space 1}    4.91{col 48}{space 3}0.000{col 56}{space 4} .0133263{col 69}{space 3} .0310056
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}  .002137{col 28}{space 2} .0269703{col 39}{space 1}    0.08{col 48}{space 3}0.937{col 56}{space 4}-.0507238{col 69}{space 3} .0549979
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0482915{col 28}{space 2} .0458685{col 39}{space 1}    1.05{col 48}{space 3}0.292{col 56}{space 4}-.0416091{col 69}{space 3} .1381922
{txt}currentaccount {c |}{col 16}{res}{space 2} 5.85e-06{col 28}{space 2} 2.98e-06{col 39}{space 1}    1.96{col 48}{space 3}0.050{col 56}{space 4} 7.09e-09{col 69}{space 3} .0000117
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0008963{col 28}{space 2} .0062274{col 39}{space 1}   -0.14{col 48}{space 3}0.886{col 56}{space 4}-.0131017{col 69}{space 3} .0113091
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-2.535961{col 28}{space 2} .2901183{col 39}{space 1}   -8.74{col 48}{space 3}0.000{col 56}{space 4}-3.104582{col 69}{space 3} -1.96734
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.095717{col 28}{space 2} .2061449{col 39}{space 1}   -5.32{col 48}{space 3}0.000{col 56}{space 4}-1.499753{col 69}{space 3}  -.69168
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.510656{col 28}{space 2} .0879027{col 39}{space 1}   39.94{col 48}{space 3}0.000{col 56}{space 4}  3.33837{col 69}{space 3} 3.682943
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.7989551{col 28}{space 2} .0745566{col 56}{space 4}-.9051037{col 69}{space 3}-.5990602
{txt}         sigma {c |}{col 16}{res}{space 2} 33.47023{col 28}{space 2} 2.942123{col 56}{space 4} 28.17318{col 69}{space 3} 39.76323
{txt}        lambda {c |}{col 16}{res}{space 2}-26.74121{col 28}{space 2} 4.596408{col 56}{space 4}-35.75001{col 69}{space 3}-17.73242
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   28.25   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA56, title((A56))
{txt}
{com}. heckman haircut persrank pr rightgov leftgov loggdppc logpop polity, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res: -634.4843}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-633.28262}  
Iteration 2:{space 3}log pseudolikelihood = {res:-632.58355}  
Iteration 3:{space 3}log pseudolikelihood = {res:-632.56464}  
Iteration 4:{space 3}log pseudolikelihood = {res:-632.56463}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     3,725
{txt}(regression model with sample selection)              Selected    = {res}        70
                                                {txt}      Nonselected = {res}     3,655

                                                {txt}Wald chi2({res}7{txt})      =  {res}    65.87
{txt}Log pseudolikelihood = {res}-632.5646                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:133} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.156148{col 28}{space 2} 1.181197{col 39}{space 1}   -2.67{col 48}{space 3}0.008{col 56}{space 4}-5.471252{col 69}{space 3}-.8410435
{txt}{space 12}pr {c |}{col 16}{res}{space 2}-3.558088{col 28}{space 2} 9.824121{col 39}{space 1}   -0.36{col 48}{space 3}0.717{col 56}{space 4}-22.81301{col 69}{space 3} 15.69684
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}  1.10637{col 28}{space 2} 7.367856{col 39}{space 1}    0.15{col 48}{space 3}0.881{col 56}{space 4}-13.33436{col 69}{space 3}  15.5471
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 3.245055{col 28}{space 2} 10.20593{col 39}{space 1}    0.32{col 48}{space 3}0.751{col 56}{space 4} -16.7582{col 69}{space 3} 23.24831
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-25.33846{col 28}{space 2} 5.147384{col 39}{space 1}   -4.92{col 48}{space 3}0.000{col 56}{space 4}-35.42715{col 69}{space 3}-15.24977
{txt}{space 8}logpop {c |}{col 16}{res}{space 2} -6.32059{col 28}{space 2} 3.015003{col 39}{space 1}   -2.10{col 48}{space 3}0.036{col 56}{space 4}-12.22989{col 69}{space 3}-.4112919
{txt}{space 8}polity {c |}{col 16}{res}{space 2}-1.415577{col 28}{space 2} 1.168507{col 39}{space 1}   -1.21{col 48}{space 3}0.226{col 56}{space 4}-3.705809{col 69}{space 3} .8746549
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 414.7565{col 28}{space 2} 64.02725{col 39}{space 1}    6.48{col 48}{space 3}0.000{col 56}{space 4} 289.2654{col 69}{space 3} 540.2476
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0221808{col 28}{space 2} .0045097{col 39}{space 1}    4.92{col 48}{space 3}0.000{col 56}{space 4} .0133419{col 69}{space 3} .0310197
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} .0020768{col 28}{space 2}  .026851{col 39}{space 1}    0.08{col 48}{space 3}0.938{col 56}{space 4}-.0505501{col 69}{space 3} .0547037
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0483631{col 28}{space 2} .0458312{col 39}{space 1}    1.06{col 48}{space 3}0.291{col 56}{space 4}-.0414643{col 69}{space 3} .1381906
{txt}currentaccount {c |}{col 16}{res}{space 2} 6.02e-06{col 28}{space 2} 2.89e-06{col 39}{space 1}    2.08{col 48}{space 3}0.037{col 56}{space 4} 3.51e-07{col 69}{space 3} .0000117
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0007622{col 28}{space 2} .0060761{col 39}{space 1}   -0.13{col 48}{space 3}0.900{col 56}{space 4}-.0126711{col 69}{space 3} .0111467
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-2.536765{col 28}{space 2} .2900595{col 39}{space 1}   -8.75{col 48}{space 3}0.000{col 56}{space 4}-3.105271{col 69}{space 3}-1.968259
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.095159{col 28}{space 2} .2015387{col 39}{space 1}   -5.43{col 48}{space 3}0.000{col 56}{space 4}-1.490168{col 69}{space 3}-.7001507
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.510143{col 28}{space 2} .0849839{col 39}{space 1}   41.30{col 48}{space 3}0.000{col 56}{space 4} 3.343577{col 69}{space 3} 3.676708
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.7987535{col 28}{space 2} .0729556{col 56}{space 4}-.9033556{col 69}{space 3}-.6044634
{txt}         sigma {c |}{col 16}{res}{space 2} 33.45305{col 28}{space 2} 2.842972{col 56}{space 4} 28.32026{col 69}{space 3} 39.51611
{txt}        lambda {c |}{col 16}{res}{space 2}-26.72074{col 28}{space 2} 4.462455{col 56}{space 4}-35.46699{col 69}{space 3}-17.97449
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   29.53   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA57, title((A57))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop polity region1 region2 region3 region4 region5 region6 region7 region8 region9 region10 region11 region12 region13 region14 region15 region16 region17 region18 region19 region20 region21 region22, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{txt}note: region1 omitted because of collinearity
note: region4 omitted because of collinearity
note: region6 omitted because of collinearity
note: region8 omitted because of collinearity
note: region9 omitted because of collinearity
note: region11 omitted because of collinearity
note: region12 omitted because of collinearity
note: region13 omitted because of collinearity
note: region14 omitted because of collinearity
note: region16 omitted because of collinearity
note: region17 omitted because of collinearity
note: region18 omitted because of collinearity
note: region20 omitted because of collinearity
note: region21 omitted because of collinearity
note: region22 omitted because of collinearity
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-628.28555}  
Iteration 1:{space 3}log pseudolikelihood = {res:-627.34089}  (backed up)
Iteration 2:{space 3}log pseudolikelihood = {res:-626.67348}  
Iteration 3:{space 3}log pseudolikelihood = {res:-626.65384}  
Iteration 4:{space 3}log pseudolikelihood = {res:-626.65382}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     3,725
{txt}(regression model with sample selection)              Selected    = {res}        70
                                                {txt}      Nonselected = {res}     3,655

{col 49}{help j_robustsingular##|_new:Wald chi2(12){col 68}= }{col 70}        .
{txt}Log pseudolikelihood = {res}-626.6538                {txt}Prob > chi2       =     {res}     .

{txt}{ralign 80:(Std. Err. adjusted for {res:133} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.715468{col 28}{space 2} 1.090909{col 39}{space 1}   -2.49{col 48}{space 3}0.013{col 56}{space 4} -4.85361{col 69}{space 3}-.5773269
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2} 11.50995{col 28}{space 2}  8.09682{col 39}{space 1}    1.42{col 48}{space 3}0.155{col 56}{space 4} -4.35953{col 69}{space 3} 27.37942
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2}  10.3127{col 28}{space 2} 10.50548{col 39}{space 1}    0.98{col 48}{space 3}0.326{col 56}{space 4}-10.27765{col 69}{space 3} 30.90306
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} -21.9855{col 28}{space 2} 6.561216{col 39}{space 1}   -3.35{col 48}{space 3}0.001{col 56}{space 4}-34.84525{col 69}{space 3}-9.125755
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-3.304538{col 28}{space 2} 4.371988{col 39}{space 1}   -0.76{col 48}{space 3}0.450{col 56}{space 4}-11.87348{col 69}{space 3}   5.2644
{txt}{space 8}polity {c |}{col 16}{res}{space 2}  .751418{col 28}{space 2} 1.462457{col 39}{space 1}    0.51{col 48}{space 3}0.607{col 56}{space 4}-2.114944{col 69}{space 3}  3.61778
{txt}{space 7}region1 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region2 {c |}{col 16}{res}{space 2} -51.2147{col 28}{space 2} 19.92275{col 39}{space 1}   -2.57{col 48}{space 3}0.010{col 56}{space 4}-90.26257{col 69}{space 3}-12.16684
{txt}{space 7}region3 {c |}{col 16}{res}{space 2}-36.27054{col 28}{space 2} 20.63722{col 39}{space 1}   -1.76{col 48}{space 3}0.079{col 56}{space 4}-76.71875{col 69}{space 3} 4.177681
{txt}{space 7}region4 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region5 {c |}{col 16}{res}{space 2}-7.944803{col 28}{space 2} 14.58121{col 39}{space 1}   -0.54{col 48}{space 3}0.586{col 56}{space 4}-36.52346{col 69}{space 3} 20.63385
{txt}{space 7}region6 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region7 {c |}{col 16}{res}{space 2}-51.29077{col 28}{space 2} 21.13487{col 39}{space 1}   -2.43{col 48}{space 3}0.015{col 56}{space 4}-92.71435{col 69}{space 3} -9.86719
{txt}{space 7}region8 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 7}region9 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region10 {c |}{col 16}{res}{space 2} 4.967168{col 28}{space 2} 7.408865{col 39}{space 1}    0.67{col 48}{space 3}0.503{col 56}{space 4}-9.553941{col 69}{space 3} 19.48828
{txt}{space 6}region11 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region12 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region13 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region14 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region15 {c |}{col 16}{res}{space 2}-45.09445{col 28}{space 2} 20.68939{col 39}{space 1}   -2.18{col 48}{space 3}0.029{col 56}{space 4}-85.64491{col 69}{space 3}-4.543999
{txt}{space 6}region16 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region17 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region18 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region19 {c |}{col 16}{res}{space 2}-29.40796{col 28}{space 2}  23.4571{col 39}{space 1}   -1.25{col 48}{space 3}0.210{col 56}{space 4}-75.38304{col 69}{space 3} 16.56712
{txt}{space 6}region20 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region21 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 6}region22 {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 9}_cons {c |}{col 16}{res}{space 2} 349.2928{col 28}{space 2} 81.36893{col 39}{space 1}    4.29{col 48}{space 3}0.000{col 56}{space 4} 189.8127{col 69}{space 3}  508.773
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0227563{col 28}{space 2} .0047496{col 39}{space 1}    4.79{col 48}{space 3}0.000{col 56}{space 4} .0134473{col 69}{space 3} .0320653
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} -.000603{col 28}{space 2} .0276139{col 39}{space 1}   -0.02{col 48}{space 3}0.983{col 56}{space 4}-.0547252{col 69}{space 3} .0535191
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0526703{col 28}{space 2} .0456566{col 39}{space 1}    1.15{col 48}{space 3}0.249{col 56}{space 4}-.0368149{col 69}{space 3} .1421555
{txt}currentaccount {c |}{col 16}{res}{space 2} 7.21e-06{col 28}{space 2} 2.90e-06{col 39}{space 1}    2.48{col 48}{space 3}0.013{col 56}{space 4} 1.52e-06{col 69}{space 3} .0000129
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0001762{col 28}{space 2} .0054334{col 39}{space 1}   -0.03{col 48}{space 3}0.974{col 56}{space 4}-.0108256{col 69}{space 3} .0104731
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-2.555438{col 28}{space 2}  .286553{col 39}{space 1}   -8.92{col 48}{space 3}0.000{col 56}{space 4}-3.117071{col 69}{space 3}-1.993804
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.052269{col 28}{space 2}  .235102{col 39}{space 1}   -4.48{col 48}{space 3}0.000{col 56}{space 4}-1.513061{col 69}{space 3} -.591478
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.406814{col 28}{space 2} .1186731{col 39}{space 1}   28.71{col 48}{space 3}0.000{col 56}{space 4} 3.174219{col 69}{space 3} 3.639409
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.7826871{col 28}{space 2} .0910787{col 56}{space 4}-.9074807{col 69}{space 3}-.5309578
{txt}         sigma {c |}{col 16}{res}{space 2} 30.16897{col 28}{space 2} 3.580246{col 56}{space 4} 23.90814{col 69}{space 3} 38.06933
{txt}        lambda {c |}{col 16}{res}{space 2}-23.61287{col 28}{space 2} 5.381486{col 56}{space 4}-34.16038{col 69}{space 3}-13.06535
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   20.03   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA58, title((A58))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop polity debtrestructured brady newmoney, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-628.66744}  
Iteration 1:{space 3}log pseudolikelihood = {res:-627.90076}  
Iteration 2:{space 3}log pseudolikelihood = {res:-627.87144}  
Iteration 3:{space 3}log pseudolikelihood = {res:-627.87142}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     3,725
{txt}(regression model with sample selection)              Selected    = {res}        70
                                                {txt}      Nonselected = {res}     3,655

                                                {txt}Wald chi2({res}9{txt})      =  {res}   132.04
{txt}Log pseudolikelihood = {res}-627.8714                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 82:(Std. Err. adjusted for {res:133} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut          {txt}{c |}
{space 8}persrank {c |}{col 18}{res}{space 2}-2.746336{col 30}{space 2} .9174986{col 41}{space 1}   -2.99{col 50}{space 3}0.003{col 58}{space 4}  -4.5446{col 71}{space 3}-.9480714
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2}-4.811035{col 30}{space 2}  6.26924{col 41}{space 1}   -0.77{col 50}{space 3}0.443{col 58}{space 4}-17.09852{col 71}{space 3} 7.476449
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2}-.5077281{col 30}{space 2}  8.85176{col 41}{space 1}   -0.06{col 50}{space 3}0.954{col 58}{space 4}-17.85686{col 71}{space 3}  16.8414
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-26.43975{col 30}{space 2} 4.927418{col 41}{space 1}   -5.37{col 50}{space 3}0.000{col 58}{space 4}-36.09732{col 71}{space 3}-16.78219
{txt}{space 10}logpop {c |}{col 18}{res}{space 2} -6.41173{col 30}{space 2} 2.926146{col 41}{space 1}   -2.19{col 50}{space 3}0.028{col 58}{space 4}-12.14687{col 71}{space 3}-.6765883
{txt}{space 10}polity {c |}{col 18}{res}{space 2}-1.284316{col 30}{space 2}  .973798{col 41}{space 1}   -1.32{col 50}{space 3}0.187{col 58}{space 4}-3.192925{col 71}{space 3} .6242932
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0001054{col 30}{space 2}  .000124{col 41}{space 1}    0.85{col 50}{space 3}0.395{col 58}{space 4}-.0001377{col 71}{space 3} .0003485
{txt}{space 11}brady {c |}{col 18}{res}{space 2} 17.06706{col 30}{space 2} 5.518849{col 41}{space 1}    3.09{col 50}{space 3}0.002{col 58}{space 4} 6.250317{col 71}{space 3} 27.88381
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-16.03479{col 30}{space 2} 5.726518{col 41}{space 1}   -2.80{col 50}{space 3}0.005{col 58}{space 4}-27.25856{col 71}{space 3}-4.811022
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 409.1623{col 30}{space 2} 68.71624{col 41}{space 1}    5.95{col 50}{space 3}0.000{col 58}{space 4}  274.481{col 71}{space 3} 543.8437
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select           {txt}{c |}
{space 10}total2 {c |}{col 18}{res}{space 2} .0223788{col 30}{space 2} .0045429{col 41}{space 1}    4.93{col 50}{space 3}0.000{col 58}{space 4}  .013475{col 71}{space 3} .0312827
{txt}{space 8}logforex {c |}{col 18}{res}{space 2}-.0004219{col 30}{space 2} .0273046{col 41}{space 1}   -0.02{col 50}{space 3}0.988{col 58}{space 4}-.0539379{col 71}{space 3}  .053094
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2} .0516206{col 30}{space 2} .0459679{col 41}{space 1}    1.12{col 50}{space 3}0.261{col 58}{space 4}-.0384748{col 71}{space 3} .1417161
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} 6.52e-06{col 30}{space 2} 3.03e-06{col 41}{space 1}    2.15{col 50}{space 3}0.032{col 58}{space 4} 5.76e-07{col 71}{space 3} .0000125
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.0023928{col 30}{space 2} .0068207{col 41}{space 1}   -0.35{col 50}{space 3}0.726{col 58}{space 4}-.0157612{col 71}{space 3} .0109756
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} -2.53826{col 30}{space 2}  .289441{col 41}{space 1}   -8.77{col 50}{space 3}0.000{col 58}{space 4}-3.105554{col 71}{space 3}-1.970966
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}/athrho {c |}{col 18}{res}{space 2}-.9527714{col 30}{space 2} .2857073{col 41}{space 1}   -3.33{col 50}{space 3}0.001{col 58}{space 4}-1.512747{col 71}{space 3}-.3927953
{txt}{space 8}/lnsigma {c |}{col 18}{res}{space 2} 3.361169{col 30}{space 2} .1477219{col 41}{space 1}   22.75{col 50}{space 3}0.000{col 58}{space 4}  3.07164{col 71}{space 3} 3.650699
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             rho {c |}{col 18}{res}{space 2}-.7410351{col 30}{space 2}  .128816{col 58}{space 4}-.9074254{col 71}{space 3}-.3737675
{txt}           sigma {c |}{col 18}{res}{space 2} 28.82287{col 30}{space 2} 4.257771{col 58}{space 4} 21.57725{col 71}{space 3} 38.50157
{txt}          lambda {c |}{col 18}{res}{space 2}-21.35876{col 30}{space 2} 6.694423{col 58}{space 4}-34.47959{col 71}{space 3}-8.237935
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   11.12   {txt}Prob > chi2 = {res}0.0009
{txt}
{com}. est store MODELA59, title((A59))
{txt}
{com}. heckman haircut persrank rightgov leftgov loggdppc logpop polity imports_gdp exports_gdp, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-631.64185}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-629.56245}  
Iteration 2:{space 3}log pseudolikelihood = {res:-628.77375}  
Iteration 3:{space 3}log pseudolikelihood = {res:-628.69605}  
Iteration 4:{space 3}log pseudolikelihood = {res:-628.69435}  
Iteration 5:{space 3}log pseudolikelihood = {res:-628.69435}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     3,725
{txt}(regression model with sample selection)              Selected    = {res}        70
                                                {txt}      Nonselected = {res}     3,655

                                                {txt}Wald chi2({res}8{txt})      =  {res}    47.69
{txt}Log pseudolikelihood = {res}-628.6944                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:133} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-2.442583{col 28}{space 2} .8310522{col 39}{space 1}   -2.94{col 48}{space 3}0.003{col 56}{space 4}-4.071416{col 69}{space 3}-.8137509
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}  1.95616{col 28}{space 2} 7.029464{col 39}{space 1}    0.28{col 48}{space 3}0.781{col 56}{space 4}-11.82134{col 69}{space 3} 15.73366
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 4.864436{col 28}{space 2} 10.86659{col 39}{space 1}    0.45{col 48}{space 3}0.654{col 56}{space 4}-16.43368{col 69}{space 3} 26.16255
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} -23.9484{col 28}{space 2}  5.66567{col 39}{space 1}   -4.23{col 48}{space 3}0.000{col 56}{space 4}-35.05291{col 69}{space 3}-12.84389
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-5.779383{col 28}{space 2} 3.588365{col 39}{space 1}   -1.61{col 48}{space 3}0.107{col 56}{space 4}-12.81245{col 69}{space 3} 1.253684
{txt}{space 8}polity {c |}{col 16}{res}{space 2}-1.136182{col 28}{space 2} 1.212607{col 39}{space 1}   -0.94{col 48}{space 3}0.349{col 56}{space 4}-3.512849{col 69}{space 3} 1.240484
{txt}{space 3}imports_gdp {c |}{col 16}{res}{space 2} .8986886{col 28}{space 2} .4987107{col 39}{space 1}    1.80{col 48}{space 3}0.072{col 56}{space 4}-.0787665{col 69}{space 3} 1.876144
{txt}{space 3}exports_gdp {c |}{col 16}{res}{space 2}-1.091907{col 28}{space 2} .5329896{col 39}{space 1}   -2.05{col 48}{space 3}0.040{col 56}{space 4}-2.136547{col 69}{space 3}-.0472666
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 397.8059{col 28}{space 2} 93.44064{col 39}{space 1}    4.26{col 48}{space 3}0.000{col 56}{space 4} 214.6656{col 69}{space 3} 580.9462
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2}  .021785{col 28}{space 2} .0049472{col 39}{space 1}    4.40{col 48}{space 3}0.000{col 56}{space 4} .0120887{col 69}{space 3} .0314813
{txt}{space 6}logforex {c |}{col 16}{res}{space 2} .0021835{col 28}{space 2} .0278463{col 39}{space 1}    0.08{col 48}{space 3}0.937{col 56}{space 4}-.0523943{col 69}{space 3} .0567613
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2} .0492535{col 28}{space 2} .0465242{col 39}{space 1}    1.06{col 48}{space 3}0.290{col 56}{space 4}-.0419324{col 69}{space 3} .1404393
{txt}currentaccount {c |}{col 16}{res}{space 2} 9.08e-06{col 28}{space 2} 3.41e-06{col 39}{space 1}    2.66{col 48}{space 3}0.008{col 56}{space 4} 2.40e-06{col 69}{space 3} .0000158
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0021334{col 28}{space 2} .0066537{col 39}{space 1}   -0.32{col 48}{space 3}0.748{col 56}{space 4}-.0151743{col 69}{space 3} .0109076
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-2.536559{col 28}{space 2} .2894923{col 39}{space 1}   -8.76{col 48}{space 3}0.000{col 56}{space 4}-3.103953{col 69}{space 3}-1.969164
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.269893{col 28}{space 2} .4093062{col 39}{space 1}   -3.10{col 48}{space 3}0.002{col 56}{space 4}-2.072118{col 69}{space 3}-.4676672
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.546768{col 28}{space 2} .1564241{col 39}{space 1}   22.67{col 48}{space 3}0.000{col 56}{space 4} 3.240182{col 69}{space 3} 3.853353
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.8537686{col 28}{space 2} .1109544{col 56}{space 4}-.9687839{col 69}{space 3}-.4363126
{txt}         sigma {c |}{col 16}{res}{space 2} 34.70098{col 28}{space 2} 5.428069{col 56}{space 4} 25.53838{col 69}{space 3} 47.15092
{txt}        lambda {c |}{col 16}{res}{space 2} -29.6266{col 28}{space 2} 8.358356{col 56}{space 4}-46.00868{col 69}{space 3}-13.24453
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    9.63   {txt}Prob > chi2 = {res}0.0019
{txt}
{com}. est store MODELA60, title((A60))
{txt}
{com}. estout MODELA56 MODELA57 MODELA58 MODELA59 MODELA60, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea14.tex", replace style(tex)
{res}{txt}(note: file tablea14.tex not found)
(output written to {browse  `"tablea14.tex"'})

{com}. 
. *Table A15
. heckman haircut c.persrank c.risk_ds1 rightgov leftgov loggdppc logpop  if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-364.50142}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-355.17778}  
Iteration 2:{space 3}log pseudolikelihood = {res:-352.66965}  
Iteration 3:{space 3}log pseudolikelihood = {res:-352.17726}  
Iteration 4:{space 3}log pseudolikelihood = {res:-352.09833}  
Iteration 5:{space 3}log pseudolikelihood = {res:-352.09786}  
Iteration 6:{space 3}log pseudolikelihood = {res:-352.09786}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,391
{txt}(regression model with sample selection)              Selected    = {res}        42
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    55.01
{txt}Log pseudolikelihood = {res}-352.0979                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 80:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 6}persrank {c |}{col 16}{res}{space 2}-3.178192{col 28}{space 2} .8660856{col 39}{space 1}   -3.67{col 48}{space 3}0.000{col 56}{space 4}-4.875689{col 69}{space 3}-1.480696
{txt}{space 6}risk_ds1 {c |}{col 16}{res}{space 2}-3.135387{col 28}{space 2} 1.453742{col 39}{space 1}   -2.16{col 48}{space 3}0.031{col 56}{space 4}-5.984668{col 69}{space 3}-.2861052
{txt}{space 6}rightgov {c |}{col 16}{res}{space 2}  2.22856{col 28}{space 2} 10.34222{col 39}{space 1}    0.22{col 48}{space 3}0.829{col 56}{space 4}-18.04181{col 69}{space 3} 22.49893
{txt}{space 7}leftgov {c |}{col 16}{res}{space 2} 9.910707{col 28}{space 2} 12.74898{col 39}{space 1}    0.78{col 48}{space 3}0.437{col 56}{space 4}-15.07684{col 69}{space 3} 34.89825
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-20.13223{col 28}{space 2} 6.859388{col 39}{space 1}   -2.93{col 48}{space 3}0.003{col 56}{space 4}-33.57639{col 69}{space 3}-6.688081
{txt}{space 8}logpop {c |}{col 16}{res}{space 2}-2.972584{col 28}{space 2} 4.399676{col 39}{space 1}   -0.68{col 48}{space 3}0.499{col 56}{space 4}-11.59579{col 69}{space 3} 5.650623
{txt}{space 9}_cons {c |}{col 16}{res}{space 2} 327.4838{col 28}{space 2} 78.36093{col 39}{space 1}    4.18{col 48}{space 3}0.000{col 56}{space 4} 173.8992{col 69}{space 3} 481.0684
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0211841{col 28}{space 2} .0047542{col 39}{space 1}    4.46{col 48}{space 3}0.000{col 56}{space 4}  .011866{col 69}{space 3} .0305022
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.1294177{col 28}{space 2} .0484221{col 39}{space 1}   -2.67{col 48}{space 3}0.008{col 56}{space 4}-.2243232{col 69}{space 3}-.0345123
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-.0022186{col 28}{space 2} .0695879{col 39}{space 1}   -0.03{col 48}{space 3}0.975{col 56}{space 4}-.1386084{col 69}{space 3} .1341712
{txt}currentaccount {c |}{col 16}{res}{space 2} .0000185{col 28}{space 2} 5.66e-06{col 39}{space 1}    3.26{col 48}{space 3}0.001{col 56}{space 4} 7.38e-06{col 69}{space 3} .0000296
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0187797{col 28}{space 2} .0121873{col 39}{space 1}   -1.54{col 48}{space 3}0.123{col 56}{space 4}-.0426664{col 69}{space 3} .0051071
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-.9673252{col 28}{space 2} .4702286{col 39}{space 1}   -2.06{col 48}{space 3}0.040{col 56}{space 4}-1.888956{col 69}{space 3}-.0456941
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-1.671555{col 28}{space 2} .3220212{col 39}{space 1}   -5.19{col 48}{space 3}0.000{col 56}{space 4}-2.302705{col 69}{space 3}-1.040405
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.629286{col 28}{space 2} .1484155{col 39}{space 1}   24.45{col 48}{space 3}0.000{col 56}{space 4} 3.338397{col 69}{space 3} 3.920175
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.9317569{col 28}{space 2} .0424517{col 56}{space 4}-.9802027{col 69}{space 3}-.7780478
{txt}         sigma {c |}{col 16}{res}{space 2} 37.68592{col 28}{space 2} 5.593174{col 56}{space 4} 28.17394{col 69}{space 3} 50.40929
{txt}        lambda {c |}{col 16}{res}{space 2}-35.11411{col 28}{space 2} 6.522724{col 56}{space 4}-47.89842{col 69}{space 3}-22.32981
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   26.94   {txt}Prob > chi2 = {res}0.0000
{txt}
{com}. est store MODELA61, title((A61))
{txt}
{com}. heckman haircut c.persrank##c.risk_ds1 rightgov leftgov loggdppc logpop if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-361.58939}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-353.01132}  
Iteration 2:{space 3}log pseudolikelihood = {res:-350.65888}  
Iteration 3:{space 3}log pseudolikelihood = {res:-350.44163}  
Iteration 4:{space 3}log pseudolikelihood = {res:-350.43899}  
Iteration 5:{space 3}log pseudolikelihood = {res:-350.43899}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,391
{txt}(regression model with sample selection)              Selected    = {res}        42
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}7{txt})      =  {res}    67.25
{txt}Log pseudolikelihood = {res} -350.439                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 87:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 22}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 23}{c |}{col 35}    Robust
{col 1}              haircut{col 23}{c |}      Coef.{col 35}   Std. Err.{col 47}      z{col 55}   P>|z|{col 63}     [95% Con{col 76}f. Interval]
{hline 22}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut               {txt}{c |}
{space 13}persrank {c |}{col 23}{res}{space 2}-7.821108{col 35}{space 2} 2.070819{col 46}{space 1}   -3.78{col 55}{space 3}0.000{col 63}{space 4}-11.87984{col 76}{space 3}-3.762378
{txt}{space 13}risk_ds1 {c |}{col 23}{res}{space 2}-5.924229{col 35}{space 2} 1.783181{col 46}{space 1}   -3.32{col 55}{space 3}0.001{col 63}{space 4}  -9.4192{col 76}{space 3}-2.429258
{txt}{space 21} {c |}
c.persrank#c.risk_ds1 {c |}{col 23}{res}{space 2} 1.326675{col 35}{space 2} .5013315{col 46}{space 1}    2.65{col 55}{space 3}0.008{col 63}{space 4} .3440836{col 76}{space 3} 2.309267
{txt}{space 21} {c |}
{space 13}rightgov {c |}{col 23}{res}{space 2}-.6282021{col 35}{space 2} 11.17375{col 46}{space 1}   -0.06{col 55}{space 3}0.955{col 63}{space 4}-22.52835{col 76}{space 3} 21.27194
{txt}{space 14}leftgov {c |}{col 23}{res}{space 2} 7.323272{col 35}{space 2} 13.47649{col 46}{space 1}    0.54{col 55}{space 3}0.587{col 63}{space 4}-19.09016{col 76}{space 3}  33.7367
{txt}{space 13}loggdppc {c |}{col 23}{res}{space 2}-21.67081{col 35}{space 2} 5.979116{col 46}{space 1}   -3.62{col 55}{space 3}0.000{col 63}{space 4}-33.38967{col 76}{space 3}-9.951962
{txt}{space 15}logpop {c |}{col 23}{res}{space 2} .0738971{col 35}{space 2} 3.753839{col 46}{space 1}    0.02{col 55}{space 3}0.984{col 63}{space 4}-7.283493{col 76}{space 3} 7.431287
{txt}{space 16}_cons {c |}{col 23}{res}{space 2} 302.2427{col 35}{space 2} 75.86462{col 46}{space 1}    3.98{col 55}{space 3}0.000{col 63}{space 4} 153.5508{col 76}{space 3} 450.9346
{txt}{hline 22}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select                {txt}{c |}
{space 15}total2 {c |}{col 23}{res}{space 2} .0209225{col 35}{space 2} .0051848{col 46}{space 1}    4.04{col 55}{space 3}0.000{col 63}{space 4} .0107605{col 76}{space 3} .0310845
{txt}{space 13}logforex {c |}{col 23}{res}{space 2}-.1263954{col 35}{space 2} .0524065{col 46}{space 1}   -2.41{col 55}{space 3}0.016{col 63}{space 4}-.2291102{col 76}{space 3}-.0236805
{txt}{space 13}loggdppc {c |}{col 23}{res}{space 2}-.0041623{col 35}{space 2} .0719737{col 46}{space 1}   -0.06{col 55}{space 3}0.954{col 63}{space 4} -.145228{col 76}{space 3} .1369035
{txt}{space 7}currentaccount {c |}{col 23}{res}{space 2} .0000182{col 35}{space 2} 6.40e-06{col 46}{space 1}    2.85{col 55}{space 3}0.004{col 63}{space 4} 5.68e-06{col 76}{space 3} .0000308
{txt}{space 12}gdpgrowth {c |}{col 23}{res}{space 2}-.0202371{col 35}{space 2} .0157256{col 46}{space 1}   -1.29{col 55}{space 3}0.198{col 63}{space 4}-.0510587{col 76}{space 3} .0105845
{txt}{space 16}_cons {c |}{col 23}{res}{space 2}-.9664105{col 35}{space 2} .4695028{col 46}{space 1}   -2.06{col 55}{space 3}0.040{col 63}{space 4}-1.886619{col 76}{space 3} -.046202
{txt}{hline 22}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 14}/athrho {c |}{col 23}{res}{space 2}-1.711808{col 35}{space 2} .5270817{col 46}{space 1}   -3.25{col 55}{space 3}0.001{col 63}{space 4}-2.744869{col 76}{space 3}-.6787464
{txt}{space 13}/lnsigma {c |}{col 23}{res}{space 2} 3.600503{col 35}{space 2} .2204009{col 46}{space 1}   16.34{col 55}{space 3}0.000{col 63}{space 4} 3.168525{col 76}{space 3} 4.032481
{txt}{hline 22}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
                  rho {c |}{col 23}{res}{space 2}-.9368689{col 35}{space 2} .0644498{col 63}{space 4}-.9917761{col 76}{space 3}-.5907039
{txt}                sigma {c |}{col 23}{res}{space 2} 36.61665{col 35}{space 2} 8.070345{col 63}{space 4}  23.7724{col 76}{space 3} 56.40067
{txt}               lambda {c |}{col 23}{res}{space 2}  -34.305{col 35}{space 2} 9.766732{col 63}{space 4}-53.44745{col 76}{space 3}-15.16256
{txt}{hline 22}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   10.55   {txt}Prob > chi2 = {res}0.0012
{txt}
{com}. est store MODELA62, title((A62))
{txt}
{com}. reg haircut c.persrank##c.risk_ds1 rightgov leftgov loggdppc logpop  if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        42
                                                {txt}F(7, 20)          =  {res}     4.26
                                                {txt}Prob > F          = {res}    0.0050
                                                {txt}R-squared         = {res}    0.4589
                                                {txt}Root MSE          =    {res} 22.768

{txt}{ralign 87:(Std. Err. adjusted for {res:21} clusters in ccode)}
{hline 22}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 23}{c |}{col 35}    Robust
{col 1}              haircut{col 23}{c |}      Coef.{col 35}   Std. Err.{col 47}      t{col 55}   P>|t|{col 63}     [95% Con{col 76}f. Interval]
{hline 22}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 13}persrank {c |}{col 23}{res}{space 2}-8.603907{col 35}{space 2} 3.150295{col 46}{space 1}   -2.73{col 55}{space 3}0.013{col 63}{space 4}-15.17531{col 76}{space 3}-2.032507
{txt}{space 13}risk_ds1 {c |}{col 23}{res}{space 2}-6.375889{col 35}{space 2}  2.74793{col 46}{space 1}   -2.32{col 55}{space 3}0.031{col 63}{space 4}-12.10797{col 76}{space 3}-.6438076
{txt}{space 21} {c |}
c.persrank#c.risk_ds1 {c |}{col 23}{res}{space 2} 1.761055{col 35}{space 2} .7810231{col 46}{space 1}    2.25{col 55}{space 3}0.036{col 63}{space 4} .1318699{col 76}{space 3} 3.390241
{txt}{space 21} {c |}
{space 13}rightgov {c |}{col 23}{res}{space 2}-6.304718{col 35}{space 2} 14.18955{col 46}{space 1}   -0.44{col 55}{space 3}0.662{col 63}{space 4} -35.9036{col 76}{space 3} 23.29416
{txt}{space 14}leftgov {c |}{col 23}{res}{space 2} 6.524762{col 35}{space 2} 17.66821{col 46}{space 1}    0.37{col 55}{space 3}0.716{col 63}{space 4}-30.33048{col 76}{space 3}    43.38
{txt}{space 13}loggdppc {c |}{col 23}{res}{space 2}-19.95534{col 35}{space 2} 7.895551{col 46}{space 1}   -2.53{col 55}{space 3}0.020{col 63}{space 4}-36.42517{col 76}{space 3}-3.485508
{txt}{space 15}logpop {c |}{col 23}{res}{space 2} 3.699209{col 35}{space 2}   4.3149{col 46}{space 1}    0.86{col 55}{space 3}0.401{col 63}{space 4}-5.301514{col 76}{space 3} 12.69993
{txt}{space 16}_cons {c |}{col 23}{res}{space 2} 162.7815{col 35}{space 2} 111.8836{col 46}{space 1}    1.45{col 55}{space 3}0.161{col 63}{space 4}-70.60353{col 76}{space 3} 396.1666
{txt}{hline 22}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. estimates store MODELA63, title((A63))
{txt}
{com}. heckman haircut c.persrank c.risk_inflation1 rightgov leftgov loggdppc logpop  if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-378.19669}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-370.97855}  
Iteration 2:{space 3}log pseudolikelihood = {res:-369.75178}  (not concave)
Iteration 3:{space 3}log pseudolikelihood = {res:-368.99818}  
Iteration 4:{space 3}log pseudolikelihood = {res:-368.92809}  
Iteration 5:{space 3}log pseudolikelihood = {res:-368.79322}  
Iteration 6:{space 3}log pseudolikelihood = {res:-368.79101}  
Iteration 7:{space 3}log pseudolikelihood = {res:-368.79101}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,393
{txt}(regression model with sample selection)              Selected    = {res}        44
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}6{txt})      =  {res}    36.57
{txt}Log pseudolikelihood = {res} -368.791                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 81:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 16}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 17}{c |}{col 29}    Robust
{col 1}        haircut{col 17}{c |}      Coef.{col 29}   Std. Err.{col 41}      z{col 49}   P>|z|{col 57}     [95% Con{col 70}f. Interval]
{hline 16}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut         {txt}{c |}
{space 7}persrank {c |}{col 17}{res}{space 2}-2.987839{col 29}{space 2} .9984945{col 40}{space 1}   -2.99{col 49}{space 3}0.003{col 57}{space 4}-4.944852{col 70}{space 3}-1.030825
{txt}risk_inflation1 {c |}{col 17}{res}{space 2}-1.693995{col 29}{space 2} 1.338139{col 40}{space 1}   -1.27{col 49}{space 3}0.206{col 57}{space 4}  -4.3167{col 70}{space 3} .9287094
{txt}{space 7}rightgov {c |}{col 17}{res}{space 2}-1.537255{col 29}{space 2} 7.867288{col 40}{space 1}   -0.20{col 49}{space 3}0.845{col 57}{space 4}-16.95686{col 70}{space 3} 13.88235
{txt}{space 8}leftgov {c |}{col 17}{res}{space 2} 7.819208{col 29}{space 2} 11.66718{col 40}{space 1}    0.67{col 49}{space 3}0.503{col 57}{space 4}-15.04805{col 70}{space 3} 30.68647
{txt}{space 7}loggdppc {c |}{col 17}{res}{space 2}-22.17734{col 29}{space 2}  6.88062{col 40}{space 1}   -3.22{col 49}{space 3}0.001{col 57}{space 4} -35.6631{col 70}{space 3}-8.691568
{txt}{space 9}logpop {c |}{col 17}{res}{space 2}-2.477495{col 29}{space 2} 4.832171{col 40}{space 1}   -0.51{col 49}{space 3}0.608{col 57}{space 4}-11.94838{col 70}{space 3} 6.993387
{txt}{space 10}_cons {c |}{col 17}{res}{space 2} 335.1048{col 29}{space 2} 78.17911{col 40}{space 1}    4.29{col 49}{space 3}0.000{col 57}{space 4} 181.8766{col 70}{space 3}  488.333
{txt}{hline 16}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select          {txt}{c |}
{space 9}total2 {c |}{col 17}{res}{space 2}  .020572{col 29}{space 2} .0051531{col 40}{space 1}    3.99{col 49}{space 3}0.000{col 57}{space 4} .0104722{col 70}{space 3} .0306718
{txt}{space 7}logforex {c |}{col 17}{res}{space 2}-.1274245{col 29}{space 2} .0480997{col 40}{space 1}   -2.65{col 49}{space 3}0.008{col 57}{space 4}-.2216982{col 70}{space 3}-.0331508
{txt}{space 7}loggdppc {c |}{col 17}{res}{space 2} .0097218{col 29}{space 2} .0693158{col 40}{space 1}    0.14{col 49}{space 3}0.888{col 57}{space 4}-.1261347{col 70}{space 3} .1455783
{txt}{space 1}currentaccount {c |}{col 17}{res}{space 2} .0000188{col 29}{space 2} 5.55e-06{col 40}{space 1}    3.40{col 49}{space 3}0.001{col 57}{space 4} 7.97e-06{col 70}{space 3} .0000297
{txt}{space 6}gdpgrowth {c |}{col 17}{res}{space 2}-.0144311{col 29}{space 2}  .012231{col 40}{space 1}   -1.18{col 49}{space 3}0.238{col 57}{space 4}-.0384035{col 70}{space 3} .0095413
{txt}{space 10}_cons {c |}{col 17}{res}{space 2}-1.056026{col 29}{space 2} .4659562{col 40}{space 1}   -2.27{col 49}{space 3}0.023{col 57}{space 4}-1.969284{col 70}{space 3}-.1427689
{txt}{hline 16}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}/athrho {c |}{col 17}{res}{space 2}-1.673501{col 29}{space 2} .5360153{col 40}{space 1}   -3.12{col 49}{space 3}0.002{col 57}{space 4}-2.724072{col 70}{space 3}-.6229307
{txt}{space 7}/lnsigma {c |}{col 17}{res}{space 2} 3.634698{col 29}{space 2} .1546695{col 40}{space 1}   23.50{col 49}{space 3}0.000{col 57}{space 4} 3.331551{col 70}{space 3} 3.937845
{txt}{hline 16}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
            rho {c |}{col 17}{res}{space 2}-.9320131{col 29}{space 2} .0704065{col 57}{space 4}-.9914283{col 70}{space 3}-.5531653
{txt}          sigma {c |}{col 17}{res}{space 2} 37.89041{col 29}{space 2} 5.860489{col 57}{space 4} 27.98172{col 70}{space 3} 51.30789
{txt}         lambda {c |}{col 17}{res}{space 2}-35.31436{col 29}{space 2} 7.779815{col 57}{space 4}-50.56251{col 70}{space 3} -20.0662
{txt}{hline 16}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    9.75   {txt}Prob > chi2 = {res}0.0018
{txt}
{com}. est store MODELA64, title((A64))
{txt}
{com}. heckman haircut c.persrank##c.risk_inflation1 rightgov leftgov loggdppc logpop  if democratic==1, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-372.46791}  (not concave)
Iteration 1:{space 3}log pseudolikelihood = {res:-368.21341}  
Iteration 2:{space 3}log pseudolikelihood = {res: -367.2732}  
Iteration 3:{space 3}log pseudolikelihood = {res:-367.23841}  
Iteration 4:{space 3}log pseudolikelihood = {res:-367.23826}  
Iteration 5:{space 3}log pseudolikelihood = {res:-367.23826}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     1,393
{txt}(regression model with sample selection)              Selected    = {res}        44
                                                {txt}      Nonselected = {res}     1,349

                                                {txt}Wald chi2({res}7{txt})      =  {res}    39.54
{txt}Log pseudolikelihood = {res}-367.2383                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 94:(Std. Err. adjusted for {res:76} clusters in ccode)}
{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}                     haircut{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      z{col 62}   P>|z|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut                      {txt}{c |}
{space 20}persrank {c |}{col 30}{res}{space 2} -6.46423{col 42}{space 2} 2.109425{col 53}{space 1}   -3.06{col 62}{space 3}0.002{col 70}{space 4}-10.59863{col 83}{space 3}-2.329834
{txt}{space 13}risk_inflation1 {c |}{col 30}{res}{space 2}-3.892414{col 42}{space 2}  1.46862{col 53}{space 1}   -2.65{col 62}{space 3}0.008{col 70}{space 4}-6.770857{col 83}{space 3}-1.013971
{txt}{space 28} {c |}
c.persrank#c.risk_inflation1 {c |}{col 30}{res}{space 2} .7055237{col 42}{space 2} .4121275{col 53}{space 1}    1.71{col 62}{space 3}0.087{col 70}{space 4}-.1022313{col 83}{space 3} 1.513279
{txt}{space 28} {c |}
{space 20}rightgov {c |}{col 30}{res}{space 2}-3.203718{col 42}{space 2} 7.361206{col 53}{space 1}   -0.44{col 62}{space 3}0.663{col 70}{space 4}-17.63142{col 83}{space 3} 11.22398
{txt}{space 21}leftgov {c |}{col 30}{res}{space 2} 6.383402{col 42}{space 2} 10.28596{col 53}{space 1}    0.62{col 62}{space 3}0.535{col 70}{space 4} -13.7767{col 83}{space 3} 26.54351
{txt}{space 20}loggdppc {c |}{col 30}{res}{space 2}-18.92576{col 42}{space 2} 7.164315{col 53}{space 1}   -2.64{col 62}{space 3}0.008{col 70}{space 4}-32.96756{col 83}{space 3}-4.883962
{txt}{space 22}logpop {c |}{col 30}{res}{space 2}-4.361071{col 42}{space 2} 4.187595{col 53}{space 1}   -1.04{col 62}{space 3}0.298{col 70}{space 4}-12.56861{col 83}{space 3} 3.846465
{txt}{space 23}_cons {c |}{col 30}{res}{space 2} 342.2367{col 42}{space 2} 80.48262{col 53}{space 1}    4.25{col 62}{space 3}0.000{col 70}{space 4} 184.4936{col 83}{space 3} 499.9797
{txt}{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select                       {txt}{c |}
{space 22}total2 {c |}{col 30}{res}{space 2} .0207385{col 42}{space 2} .0047502{col 53}{space 1}    4.37{col 62}{space 3}0.000{col 70}{space 4} .0114283{col 83}{space 3} .0300488
{txt}{space 20}logforex {c |}{col 30}{res}{space 2}-.1352288{col 42}{space 2} .0457738{col 53}{space 1}   -2.95{col 62}{space 3}0.003{col 70}{space 4}-.2249439{col 83}{space 3}-.0455137
{txt}{space 20}loggdppc {c |}{col 30}{res}{space 2} .0187329{col 42}{space 2} .0677448{col 53}{space 1}    0.28{col 62}{space 3}0.782{col 70}{space 4}-.1140445{col 83}{space 3} .1515102
{txt}{space 14}currentaccount {c |}{col 30}{res}{space 2} .0000187{col 42}{space 2} 5.41e-06{col 53}{space 1}    3.45{col 62}{space 3}0.001{col 70}{space 4} 8.05e-06{col 83}{space 3} .0000293
{txt}{space 19}gdpgrowth {c |}{col 30}{res}{space 2}-.0128232{col 42}{space 2} .0118271{col 53}{space 1}   -1.08{col 62}{space 3}0.278{col 70}{space 4}-.0360038{col 83}{space 3} .0103575
{txt}{space 23}_cons {c |}{col 30}{res}{space 2}-1.076013{col 42}{space 2} .4630817{col 53}{space 1}   -2.32{col 62}{space 3}0.020{col 70}{space 4}-1.983637{col 83}{space 3}-.1683897
{txt}{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 21}/athrho {c |}{col 30}{res}{space 2}-1.488779{col 42}{space 2} .4339195{col 53}{space 1}   -3.43{col 62}{space 3}0.001{col 70}{space 4}-2.339245{col 83}{space 3}-.6383122
{txt}{space 20}/lnsigma {c |}{col 30}{res}{space 2}  3.51077{col 42}{space 2} .1589332{col 53}{space 1}   22.09{col 62}{space 3}0.000{col 70}{space 4} 3.199266{col 83}{space 3} 3.822273
{txt}{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
                         rho {c |}{col 30}{res}{space 2}-.9030998{col 42}{space 2} .0800194{col 70}{space 4}-.9815851{col 83}{space 3}-.5637492
{txt}                       sigma {c |}{col 30}{res}{space 2} 33.47402{col 42}{space 2} 5.320134{col 70}{space 4} 24.51454{col 83}{space 3} 45.70799
{txt}                      lambda {c |}{col 30}{res}{space 2}-30.23038{col 42}{space 2} 7.204301{col 70}{space 4}-44.35055{col 83}{space 3}-16.11021
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}   11.77   {txt}Prob > chi2 = {res}0.0006
{txt}
{com}. est store MODELA65, title((A65))
{txt}
{com}. reg haircut c.persrank##c.risk_inflation1 rightgov leftgov loggdppc logpop  if democratic==1, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}        44
                                                {txt}F(7, 21)          =  {res}     2.88
                                                {txt}Prob > F          = {res}    0.0282
                                                {txt}R-squared         = {res}    0.4699
                                                {txt}Root MSE          =    {res} 22.118

{txt}{ralign 94:(Std. Err. adjusted for {res:22} clusters in ccode)}
{hline 29}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 30}{c |}{col 42}    Robust
{col 1}                     haircut{col 30}{c |}      Coef.{col 42}   Std. Err.{col 54}      t{col 62}   P>|t|{col 70}     [95% Con{col 83}f. Interval]
{hline 29}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 20}persrank {c |}{col 30}{res}{space 2} -8.03356{col 42}{space 2} 2.546318{col 53}{space 1}   -3.15{col 62}{space 3}0.005{col 70}{space 4}-13.32892{col 83}{space 3}-2.738202
{txt}{space 13}risk_inflation1 {c |}{col 30}{res}{space 2}-5.169189{col 42}{space 2} 1.828691{col 53}{space 1}   -2.83{col 62}{space 3}0.010{col 70}{space 4} -8.97216{col 83}{space 3}-1.366217
{txt}{space 28} {c |}
c.persrank#c.risk_inflation1 {c |}{col 30}{res}{space 2} 1.155278{col 42}{space 2} .4361985{col 53}{space 1}    2.65{col 62}{space 3}0.015{col 70}{space 4} .2481532{col 83}{space 3} 2.062402
{txt}{space 28} {c |}
{space 20}rightgov {c |}{col 30}{res}{space 2}-4.326089{col 42}{space 2} 10.00091{col 53}{space 1}   -0.43{col 62}{space 3}0.670{col 70}{space 4}-25.12412{col 83}{space 3} 16.47194
{txt}{space 21}leftgov {c |}{col 30}{res}{space 2}  7.90028{col 42}{space 2} 12.99839{col 53}{space 1}    0.61{col 62}{space 3}0.550{col 70}{space 4}-19.13135{col 83}{space 3} 34.93191
{txt}{space 20}loggdppc {c |}{col 30}{res}{space 2}-14.92389{col 42}{space 2} 7.862445{col 53}{space 1}   -1.90{col 62}{space 3}0.072{col 70}{space 4}-31.27474{col 83}{space 3} 1.426958
{txt}{space 22}logpop {c |}{col 30}{res}{space 2}-2.974931{col 42}{space 2} 4.093921{col 53}{space 1}   -0.73{col 62}{space 3}0.475{col 70}{space 4} -11.4887{col 83}{space 3} 5.538843
{txt}{space 23}_cons {c |}{col 30}{res}{space 2} 231.6566{col 42}{space 2} 96.93025{col 53}{space 1}    2.39{col 62}{space 3}0.026{col 70}{space 4} 30.07907{col 83}{space 3}  433.234
{txt}{hline 29}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA66, title((A66))
{txt}
{com}. estout MODELA61 MODELA62 MODELA63 MODELA64 MODELA65 MODELA66, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea15.tex", replace style(tex)
{res}{txt}(note: file tablea15.tex not found)
(output written to {browse  `"tablea15.tex"'})

{com}. 
. *Table A16
. heckman haircut democracy_cc democracy_pc autocracy, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{txt}note: autocracy omitted because of collinearity
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-1140.5587}  
Iteration 1:{space 3}log pseudolikelihood = {res:-1140.5585}  
Iteration 2:{space 3}log pseudolikelihood = {res:-1140.5585}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     3,784
{txt}(regression model with sample selection)              Selected    = {res}       129
                                                {txt}      Nonselected = {res}     3,655

                                                {txt}Wald chi2({res}2{txt})      =  {res}     5.19
{txt}Log pseudolikelihood = {res}-1140.559                {txt}Prob > chi2       =     {res}0.0746

{txt}{ralign 80:(Std. Err. adjusted for {res:133} clusters in ccode)}
{hline 15}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 16}{c |}{col 28}    Robust
{col 1}       haircut{col 16}{c |}      Coef.{col 28}   Std. Err.{col 40}      z{col 48}   P>|z|{col 56}     [95% Con{col 69}f. Interval]
{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut        {txt}{c |}
{space 2}democracy_cc {c |}{col 16}{res}{space 2}-13.06498{col 28}{space 2} 6.763644{col 39}{space 1}   -1.93{col 48}{space 3}0.053{col 56}{space 4}-26.32148{col 69}{space 3}  .191523
{txt}{space 2}democracy_pc {c |}{col 16}{res}{space 2} 4.859615{col 28}{space 2}  7.84989{col 39}{space 1}    0.62{col 48}{space 3}0.536{col 56}{space 4}-10.52589{col 69}{space 3} 20.24512
{txt}{space 5}autocracy {c |}{col 16}{res}{space 2}        0{col 28}{txt}  (omitted)
{space 9}_cons {c |}{col 16}{res}{space 2} 39.06693{col 28}{space 2} 14.84028{col 39}{space 1}    2.63{col 48}{space 3}0.008{col 56}{space 4} 9.980516{col 69}{space 3} 68.15334
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select         {txt}{c |}
{space 8}total2 {c |}{col 16}{res}{space 2} .0232372{col 28}{space 2} .0047494{col 39}{space 1}    4.89{col 48}{space 3}0.000{col 56}{space 4} .0139286{col 69}{space 3} .0325458
{txt}{space 6}logforex {c |}{col 16}{res}{space 2}-.0064681{col 28}{space 2} .0247372{col 39}{space 1}   -0.26{col 48}{space 3}0.794{col 56}{space 4}-.0549522{col 69}{space 3}  .042016
{txt}{space 6}loggdppc {c |}{col 16}{res}{space 2}-.0711715{col 28}{space 2}  .052583{col 39}{space 1}   -1.35{col 48}{space 3}0.176{col 56}{space 4}-.1742324{col 69}{space 3} .0318893
{txt}currentaccount {c |}{col 16}{res}{space 2} 4.40e-06{col 28}{space 2} 3.11e-06{col 39}{space 1}    1.41{col 48}{space 3}0.157{col 56}{space 4}-1.70e-06{col 69}{space 3} .0000105
{txt}{space 5}gdpgrowth {c |}{col 16}{res}{space 2}-.0170043{col 28}{space 2} .0061718{col 39}{space 1}   -2.76{col 48}{space 3}0.006{col 56}{space 4}-.0291007{col 69}{space 3}-.0049079
{txt}{space 9}_cons {c |}{col 16}{res}{space 2}-1.306303{col 28}{space 2} .3251888{col 39}{space 1}   -4.02{col 48}{space 3}0.000{col 56}{space 4}-1.943662{col 69}{space 3}-.6689452
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}/athrho {c |}{col 16}{res}{space 2}-.0110337{col 28}{space 2}  .244303{col 39}{space 1}   -0.05{col 48}{space 3}0.964{col 56}{space 4}-.4898588{col 69}{space 3} .4677914
{txt}{space 6}/lnsigma {c |}{col 16}{res}{space 2} 3.339386{col 28}{space 2} .0592681{col 39}{space 1}   56.34{col 48}{space 3}0.000{col 56}{space 4} 3.223222{col 69}{space 3} 3.455549
{txt}{hline 15}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
           rho {c |}{col 16}{res}{space 2}-.0110332{col 28}{space 2} .2442733{col 56}{space 4}-.4541043{col 69}{space 3} .4364131
{txt}         sigma {c |}{col 16}{res}{space 2}  28.2018{col 28}{space 2} 1.671466{col 56}{space 4}  25.1089{col 69}{space 3} 31.67567
{txt}        lambda {c |}{col 16}{res}{space 2}-.3111566{col 28}{space 2} 6.882709{col 56}{space 4}-13.80102{col 69}{space 3}  13.1787
{txt}{hline 15}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    0.00   {txt}Prob > chi2 = {res}0.9640
{txt}
{com}. est store MODELA67, title((A67))
{txt}
{com}. heckman haircut democracy_cc democracy_pc autocracy rightgov leftgov loggdppc logpop imports_gdp exports_gdp debtrest brady newmoney, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{txt}note: autocracy omitted because of collinearity
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-1114.0602}  
Iteration 1:{space 3}log pseudolikelihood = {res:-1113.1537}  
Iteration 2:{space 3}log pseudolikelihood = {res:-1113.1298}  
Iteration 3:{space 3}log pseudolikelihood = {res:-1113.1296}  
Iteration 4:{space 3}log pseudolikelihood = {res:-1113.1296}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     3,784
{txt}(regression model with sample selection)              Selected    = {res}       129
                                                {txt}      Nonselected = {res}     3,655

                                                {txt}Wald chi2({res}11{txt})     =  {res}   136.27
{txt}Log pseudolikelihood = {res} -1113.13                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 82:(Std. Err. adjusted for {res:133} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut          {txt}{c |}
{space 4}democracy_cc {c |}{col 18}{res}{space 2}-15.10527{col 30}{space 2} 7.790204{col 41}{space 1}   -1.94{col 50}{space 3}0.053{col 58}{space 4}-30.37379{col 71}{space 3} .1632477
{txt}{space 4}democracy_pc {c |}{col 18}{res}{space 2} 7.526297{col 30}{space 2} 7.331774{col 41}{space 1}    1.03{col 50}{space 3}0.305{col 58}{space 4}-6.843717{col 71}{space 3} 21.89631
{txt}{space 7}autocracy {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 8}rightgov {c |}{col 18}{res}{space 2} 3.091286{col 30}{space 2} 5.926783{col 41}{space 1}    0.52{col 50}{space 3}0.602{col 58}{space 4}-8.524995{col 71}{space 3} 14.70757
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} 8.292474{col 30}{space 2} 6.391821{col 41}{space 1}    1.30{col 50}{space 3}0.195{col 58}{space 4}-4.235265{col 71}{space 3} 20.82021
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-12.29438{col 30}{space 2} 3.510696{col 41}{space 1}   -3.50{col 50}{space 3}0.000{col 58}{space 4}-19.17522{col 71}{space 3}-5.413542
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-3.362813{col 30}{space 2}  2.89739{col 41}{space 1}   -1.16{col 50}{space 3}0.246{col 58}{space 4}-9.041593{col 71}{space 3} 2.315968
{txt}{space 5}imports_gdp {c |}{col 18}{res}{space 2} .5085651{col 30}{space 2} .2835541{col 41}{space 1}    1.79{col 50}{space 3}0.073{col 58}{space 4}-.0471908{col 71}{space 3} 1.064321
{txt}{space 5}exports_gdp {c |}{col 18}{res}{space 2}-.3080403{col 30}{space 2} .3276099{col 41}{space 1}   -0.94{col 50}{space 3}0.347{col 58}{space 4}-.9501438{col 71}{space 3} .3340632
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0000662{col 30}{space 2} .0000746{col 41}{space 1}    0.89{col 50}{space 3}0.375{col 58}{space 4}  -.00008{col 71}{space 3} .0002124
{txt}{space 11}brady {c |}{col 18}{res}{space 2}  15.7837{col 30}{space 2} 4.385683{col 41}{space 1}    3.60{col 50}{space 3}0.000{col 58}{space 4} 7.187917{col 71}{space 3} 24.37948
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-14.94506{col 30}{space 2} 3.668994{col 41}{space 1}   -4.07{col 50}{space 3}0.000{col 58}{space 4}-22.13616{col 71}{space 3}-7.753966
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}  199.912{col 30}{space 2} 73.18691{col 41}{space 1}    2.73{col 50}{space 3}0.006{col 58}{space 4} 56.46826{col 71}{space 3} 343.3557
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select           {txt}{c |}
{space 10}total2 {c |}{col 18}{res}{space 2} .0233642{col 30}{space 2} .0045206{col 41}{space 1}    5.17{col 50}{space 3}0.000{col 58}{space 4} .0145039{col 71}{space 3} .0322245
{txt}{space 8}logforex {c |}{col 18}{res}{space 2} .0005548{col 30}{space 2} .0257276{col 41}{space 1}    0.02{col 50}{space 3}0.983{col 58}{space 4}-.0498704{col 71}{space 3}   .05098
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-.0791374{col 30}{space 2} .0496858{col 41}{space 1}   -1.59{col 50}{space 3}0.111{col 58}{space 4}-.1765199{col 71}{space 3}  .018245
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} 5.92e-06{col 30}{space 2} 2.94e-06{col 41}{space 1}    2.01{col 50}{space 3}0.044{col 58}{space 4} 1.49e-07{col 71}{space 3} .0000117
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.0140062{col 30}{space 2} .0064658{col 41}{space 1}   -2.17{col 50}{space 3}0.030{col 58}{space 4} -.026679{col 71}{space 3}-.0013334
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-1.305069{col 30}{space 2} .2956796{col 41}{space 1}   -4.41{col 50}{space 3}0.000{col 58}{space 4} -1.88459{col 71}{space 3}-.7255477
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}/athrho {c |}{col 18}{res}{space 2}-.6452905{col 30}{space 2} .2528935{col 41}{space 1}   -2.55{col 50}{space 3}0.011{col 58}{space 4}-1.140953{col 71}{space 3}-.1496283
{txt}{space 8}/lnsigma {c |}{col 18}{res}{space 2} 3.292614{col 30}{space 2} .1173486{col 41}{space 1}   28.06{col 50}{space 3}0.000{col 58}{space 4} 3.062615{col 71}{space 3} 3.522613
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             rho {c |}{col 18}{res}{space 2} -.568491{col 30}{space 2} .1711629{col 58}{space 4}-.8147346{col 71}{space 3}-.1485216
{txt}           sigma {c |}{col 18}{res}{space 2} 26.91311{col 30}{space 2} 3.158215{col 58}{space 4} 21.38339{col 71}{space 3} 33.87281
{txt}          lambda {c |}{col 18}{res}{space 2}-15.29986{col 30}{space 2} 6.220763{col 58}{space 4}-27.49233{col 71}{space 3} -3.10739
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    6.51   {txt}Prob > chi2 = {res}0.0107
{txt}
{com}. est store MODELA68, title((A68))
{txt}
{com}. heckman haircut democracy_cc democracy_pc autocracy rightgov leftgov loggdppc logpop imports_gdp exports_gdp debtrest brady newmoney inflation gdpgrowth logforex currentaccount, select(total2 logforex loggdppc currentaccount gdpgrowth) vce(cluster ccode)
{txt}note: autocracy omitted because of collinearity
{res}
{txt}Iteration 0:{space 3}log pseudolikelihood = {res:-1073.0729}  
Iteration 1:{space 3}log pseudolikelihood = {res:-1072.5345}  
Iteration 2:{space 3}log pseudolikelihood = {res:-1072.4902}  
Iteration 3:{space 3}log pseudolikelihood = {res:-1072.4896}  
Iteration 4:{space 3}log pseudolikelihood = {res:-1072.4896}  
{res}
{txt}Heckman selection model                         Number of obs     = {res}     3,780
{txt}(regression model with sample selection)              Selected    = {res}       125
                                                {txt}      Nonselected = {res}     3,655

                                                {txt}Wald chi2({res}15{txt})     =  {res}   232.05
{txt}Log pseudolikelihood = {res} -1072.49                {txt}Prob > chi2       =     {res}0.0000

{txt}{ralign 82:(Std. Err. adjusted for {res:133} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      z{col 50}   P>|z|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}haircut          {txt}{c |}
{space 4}democracy_cc {c |}{col 18}{res}{space 2}-19.73106{col 30}{space 2} 8.232368{col 41}{space 1}   -2.40{col 50}{space 3}0.017{col 58}{space 4} -35.8662{col 71}{space 3}-3.595912
{txt}{space 4}democracy_pc {c |}{col 18}{res}{space 2} .4168593{col 30}{space 2} 8.084707{col 41}{space 1}    0.05{col 50}{space 3}0.959{col 58}{space 4}-15.42887{col 71}{space 3} 16.26259
{txt}{space 7}autocracy {c |}{col 18}{res}{space 2}        0{col 30}{txt}  (omitted)
{space 8}rightgov {c |}{col 18}{res}{space 2} 7.159048{col 30}{space 2} 6.069098{col 41}{space 1}    1.18{col 50}{space 3}0.238{col 58}{space 4}-4.736166{col 71}{space 3} 19.05426
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} 10.85773{col 30}{space 2} 6.412555{col 41}{space 1}    1.69{col 50}{space 3}0.090{col 58}{space 4}-1.710644{col 71}{space 3} 23.42611
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-19.26946{col 30}{space 2} 4.363604{col 41}{space 1}   -4.42{col 50}{space 3}0.000{col 58}{space 4}-27.82197{col 71}{space 3}-10.71696
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-11.77061{col 30}{space 2} 3.874984{col 41}{space 1}   -3.04{col 50}{space 3}0.002{col 58}{space 4}-19.36544{col 71}{space 3}-4.175784
{txt}{space 5}imports_gdp {c |}{col 18}{res}{space 2}  .464766{col 30}{space 2} .3100201{col 41}{space 1}    1.50{col 50}{space 3}0.134{col 58}{space 4}-.1428623{col 71}{space 3} 1.072394
{txt}{space 5}exports_gdp {c |}{col 18}{res}{space 2}-.4019175{col 30}{space 2} .3257636{col 41}{space 1}   -1.23{col 50}{space 3}0.217{col 58}{space 4}-1.040402{col 71}{space 3} .2365674
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0001893{col 30}{space 2} .0001124{col 41}{space 1}    1.68{col 50}{space 3}0.092{col 58}{space 4} -.000031{col 71}{space 3} .0004097
{txt}{space 11}brady {c |}{col 18}{res}{space 2} 12.64557{col 30}{space 2} 4.535164{col 41}{space 1}    2.79{col 50}{space 3}0.005{col 58}{space 4}  3.75681{col 71}{space 3} 21.53433
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-11.91461{col 30}{space 2} 4.187344{col 41}{space 1}   -2.85{col 50}{space 3}0.004{col 58}{space 4}-20.12165{col 71}{space 3}-3.707567
{txt}{space 7}inflation {c |}{col 18}{res}{space 2} .0109942{col 30}{space 2} .0073992{col 41}{space 1}    1.49{col 50}{space 3}0.137{col 58}{space 4} -.003508{col 71}{space 3} .0254965
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}  .641708{col 30}{space 2} .4221533{col 41}{space 1}    1.52{col 50}{space 3}0.128{col 58}{space 4}-.1856972{col 71}{space 3} 1.469113
{txt}{space 8}logforex {c |}{col 18}{res}{space 2} 5.727712{col 30}{space 2} 2.268182{col 41}{space 1}    2.53{col 50}{space 3}0.012{col 58}{space 4} 1.282157{col 71}{space 3} 10.17327
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} .0007287{col 30}{space 2} .0002934{col 41}{space 1}    2.48{col 50}{space 3}0.013{col 58}{space 4} .0001536{col 71}{space 3} .0013037
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 344.0897{col 30}{space 2} 85.83949{col 41}{space 1}    4.01{col 50}{space 3}0.000{col 58}{space 4} 175.8474{col 71}{space 3}  512.332
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}select           {txt}{c |}
{space 10}total2 {c |}{col 18}{res}{space 2} .0231623{col 30}{space 2} .0045663{col 41}{space 1}    5.07{col 50}{space 3}0.000{col 58}{space 4} .0142126{col 71}{space 3}  .032112
{txt}{space 8}logforex {c |}{col 18}{res}{space 2}-.0006587{col 30}{space 2} .0252708{col 41}{space 1}   -0.03{col 50}{space 3}0.979{col 58}{space 4}-.0501885{col 71}{space 3} .0488711
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-.0669362{col 30}{space 2} .0494657{col 41}{space 1}   -1.35{col 50}{space 3}0.176{col 58}{space 4}-.1638873{col 71}{space 3} .0300149
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} 4.19e-06{col 30}{space 2} 3.23e-06{col 41}{space 1}    1.30{col 50}{space 3}0.194{col 58}{space 4}-2.13e-06{col 71}{space 3} .0000105
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2}-.0178296{col 30}{space 2} .0058531{col 41}{space 1}   -3.05{col 50}{space 3}0.002{col 58}{space 4}-.0293016{col 71}{space 3}-.0063577
{txt}{space 11}_cons {c |}{col 18}{res}{space 2}-1.384659{col 30}{space 2}  .303928{col 41}{space 1}   -4.56{col 50}{space 3}0.000{col 58}{space 4}-1.980347{col 71}{space 3}-.7889707
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}/athrho {c |}{col 18}{res}{space 2}-.5415433{col 30}{space 2} .2672454{col 41}{space 1}   -2.03{col 50}{space 3}0.043{col 58}{space 4}-1.065335{col 71}{space 3} -.017752
{txt}{space 8}/lnsigma {c |}{col 18}{res}{space 2} 3.176293{col 30}{space 2} .1286668{col 41}{space 1}   24.69{col 50}{space 3}0.000{col 58}{space 4} 2.924111{col 71}{space 3} 3.428475
{txt}{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
             rho {c |}{col 18}{res}{space 2}-.4941553{col 30}{space 2} .2019869{col 58}{space 4} -.787697{col 71}{space 3}-.0177501
{txt}           sigma {c |}{col 18}{res}{space 2} 23.95778{col 30}{space 2} 3.082571{col 58}{space 4} 18.61767{col 71}{space 3} 30.82961
{txt}          lambda {c |}{col 18}{res}{space 2}-11.83886{col 30}{space 2}  6.18727{col 58}{space 4}-23.96569{col 71}{space 3} .2879619
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Wald test of indep. eqns. (rho = 0): chi2({res}1{txt}) = {res}    4.11   {txt}Prob > chi2 = {res}0.0427
{txt}
{com}. est store MODELA69, title((A69))
{txt}
{com}. reg haircut democracy_cc democracy_pc, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}       153
                                                {txt}F(2, 58)          =  {res}     2.36
                                                {txt}Prob > F          = {res}    0.1032
                                                {txt}R-squared         = {res}    0.0319
                                                {txt}Root MSE          =    {res} 27.377

{txt}{ralign 78:(Std. Err. adjusted for {res:59} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
democracy_cc {c |}{col 14}{res}{space 2} -11.7934{col 26}{space 2} 6.465267{col 37}{space 1}   -1.82{col 46}{space 3}0.073{col 54}{space 4}-24.73504{col 67}{space 3}  1.14824
{txt}democracy_pc {c |}{col 14}{res}{space 2} 6.118497{col 26}{space 2} 7.566985{col 37}{space 1}    0.81{col 46}{space 3}0.422{col 54}{space 4} -9.02847{col 67}{space 3} 21.26546
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 37.15928{col 26}{space 2} 3.219205{col 37}{space 1}   11.54{col 46}{space 3}0.000{col 54}{space 4} 30.71534{col 67}{space 3} 43.60322
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA70, title((A70))
{txt}
{com}. reg haircut democracy_cc democracy_pc rightgov leftgov loggdppc logpop imports_gdp exports_gdp debtrest brady newmoney, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}       133
                                                {txt}F(11, 55)         =  {res}    15.28
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3527
                                                {txt}Root MSE          =    {res} 23.985

{txt}{ralign 82:(Std. Err. adjusted for {res:56} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}democracy_cc {c |}{col 18}{res}{space 2}-13.43345{col 30}{space 2} 8.591016{col 41}{space 1}   -1.56{col 50}{space 3}0.124{col 58}{space 4}-30.65023{col 71}{space 3} 3.783331
{txt}{space 4}democracy_pc {c |}{col 18}{res}{space 2} 7.508659{col 30}{space 2} 7.622799{col 41}{space 1}    0.99{col 50}{space 3}0.329{col 58}{space 4}-7.767772{col 71}{space 3} 22.78509
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2} 3.514246{col 30}{space 2} 6.429558{col 41}{space 1}    0.55{col 50}{space 3}0.587{col 58}{space 4}-9.370877{col 71}{space 3} 16.39937
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2} 9.979568{col 30}{space 2} 6.399236{col 41}{space 1}    1.56{col 50}{space 3}0.125{col 58}{space 4}-2.844788{col 71}{space 3} 22.80392
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-12.00686{col 30}{space 2} 3.309259{col 41}{space 1}   -3.63{col 50}{space 3}0.001{col 58}{space 4}-18.63876{col 71}{space 3}-5.374959
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-1.589362{col 30}{space 2} 2.505744{col 41}{space 1}   -0.63{col 50}{space 3}0.529{col 58}{space 4}-6.610985{col 71}{space 3} 3.432261
{txt}{space 5}imports_gdp {c |}{col 18}{res}{space 2} .4880444{col 30}{space 2}  .293872{col 41}{space 1}    1.66{col 50}{space 3}0.102{col 58}{space 4}-.1008882{col 71}{space 3} 1.076977
{txt}{space 5}exports_gdp {c |}{col 18}{res}{space 2}-.2826904{col 30}{space 2}  .338558{col 41}{space 1}   -0.83{col 50}{space 3}0.407{col 58}{space 4}-.9611759{col 71}{space 3} .3957951
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0002052{col 30}{space 2} .0000583{col 41}{space 1}    3.52{col 50}{space 3}0.001{col 58}{space 4} .0000884{col 71}{space 3}  .000322
{txt}{space 11}brady {c |}{col 18}{res}{space 2}  15.7353{col 30}{space 2} 4.787759{col 41}{space 1}    3.29{col 50}{space 3}0.002{col 58}{space 4} 6.140418{col 71}{space 3} 25.33019
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-14.54949{col 30}{space 2} 3.831688{col 41}{space 1}   -3.80{col 50}{space 3}0.000{col 58}{space 4}-22.22837{col 71}{space 3}-6.870619
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 134.9789{col 30}{space 2} 56.22026{col 41}{space 1}    2.40{col 50}{space 3}0.020{col 58}{space 4} 22.31098{col 71}{space 3} 247.6468
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA71, title((A71))
{txt}
{com}. reg haircut democracy_cc democracy_pc rightgov leftgov loggdppc logpop imports_gdp exports_gdp debtrest brady newmoney inflation gdpgrowth logforex currentaccount, vce(cluster ccode)

{txt}Linear regression                               Number of obs     = {res}       125
                                                {txt}F(15, 52)         =  {res}    21.28
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.4340
                                                {txt}Root MSE          =    {res} 22.912

{txt}{ralign 82:(Std. Err. adjusted for {res:53} clusters in ccode)}
{hline 17}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 18}{c |}{col 30}    Robust
{col 1}         haircut{col 18}{c |}      Coef.{col 30}   Std. Err.{col 42}      t{col 50}   P>|t|{col 58}     [95% Con{col 71}f. Interval]
{hline 17}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}democracy_cc {c |}{col 18}{res}{space 2}  -20.579{col 30}{space 2} 8.686603{col 41}{space 1}   -2.37{col 50}{space 3}0.022{col 58}{space 4}-38.00994{col 71}{space 3}-3.148052
{txt}{space 4}democracy_pc {c |}{col 18}{res}{space 2} .1448494{col 30}{space 2} 8.709683{col 41}{space 1}    0.02{col 50}{space 3}0.987{col 58}{space 4}-17.33241{col 71}{space 3} 17.62211
{txt}{space 8}rightgov {c |}{col 18}{res}{space 2} 8.062643{col 30}{space 2} 6.457467{col 41}{space 1}    1.25{col 50}{space 3}0.217{col 58}{space 4}-4.895212{col 71}{space 3}  21.0205
{txt}{space 9}leftgov {c |}{col 18}{res}{space 2}  11.8245{col 30}{space 2} 6.721354{col 41}{space 1}    1.76{col 50}{space 3}0.084{col 58}{space 4}-1.662884{col 71}{space 3} 25.31188
{txt}{space 8}loggdppc {c |}{col 18}{res}{space 2}-19.29077{col 30}{space 2} 4.604804{col 41}{space 1}   -4.19{col 50}{space 3}0.000{col 58}{space 4}-28.53098{col 71}{space 3}-10.05055
{txt}{space 10}logpop {c |}{col 18}{res}{space 2}-10.88011{col 30}{space 2} 4.170467{col 41}{space 1}   -2.61{col 50}{space 3}0.012{col 58}{space 4}-19.24876{col 71}{space 3}-2.511455
{txt}{space 5}imports_gdp {c |}{col 18}{res}{space 2} .4594477{col 30}{space 2} .3327937{col 41}{space 1}    1.38{col 50}{space 3}0.173{col 58}{space 4}-.2083517{col 71}{space 3} 1.127247
{txt}{space 5}exports_gdp {c |}{col 18}{res}{space 2}-.3854175{col 30}{space 2} .3478367{col 41}{space 1}   -1.11{col 50}{space 3}0.273{col 58}{space 4}-1.083403{col 71}{space 3}  .312568
{txt}debtrestructured {c |}{col 18}{res}{space 2} .0003062{col 30}{space 2} .0000737{col 41}{space 1}    4.15{col 50}{space 3}0.000{col 58}{space 4} .0001583{col 71}{space 3} .0004541
{txt}{space 11}brady {c |}{col 18}{res}{space 2} 12.49638{col 30}{space 2} 4.841073{col 41}{space 1}    2.58{col 50}{space 3}0.013{col 58}{space 4} 2.782051{col 71}{space 3}  22.2107
{txt}{space 8}newmoney {c |}{col 18}{res}{space 2}-11.94596{col 30}{space 2} 4.453861{col 41}{space 1}   -2.68{col 50}{space 3}0.010{col 58}{space 4}-20.88328{col 71}{space 3}-3.008634
{txt}{space 7}inflation {c |}{col 18}{res}{space 2} .0158642{col 30}{space 2} .0077945{col 41}{space 1}    2.04{col 50}{space 3}0.047{col 58}{space 4} .0002233{col 71}{space 3}  .031505
{txt}{space 7}gdpgrowth {c |}{col 18}{res}{space 2} .4960463{col 30}{space 2} .4715246{col 41}{space 1}    1.05{col 50}{space 3}0.298{col 58}{space 4}-.4501371{col 71}{space 3}  1.44223
{txt}{space 8}logforex {c |}{col 18}{res}{space 2} 5.820116{col 30}{space 2} 2.381589{col 41}{space 1}    2.44{col 50}{space 3}0.018{col 58}{space 4} 1.041109{col 71}{space 3} 10.59912
{txt}{space 2}currentaccount {c |}{col 18}{res}{space 2} .0009257{col 30}{space 2} .0002783{col 41}{space 1}    3.33{col 50}{space 3}0.002{col 58}{space 4} .0003674{col 71}{space 3} .0014841
{txt}{space 11}_cons {c |}{col 18}{res}{space 2} 302.7795{col 30}{space 2} 88.20015{col 41}{space 1}    3.43{col 50}{space 3}0.001{col 58}{space 4}  125.793{col 71}{space 3} 479.7661
{txt}{hline 17}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELA72, title((A72))
{txt}
{com}. estout MODELA67 MODELA68 MODELA69 MODELA70 MODELA71 MODELA72, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(lambda N r2, fmt(3 0 3) label($\lambda$ Observations R$^2$)) label,  using "tablea16.tex", replace style(tex)
{res}{txt}(note: file tablea16.tex not found)
(output written to {browse  `"tablea16.tex"'})

{com}. 
. 
. //APPENDIX SECTION C/D: SENSITIVITY ANALYSIS
. *DF BETAS
. qui reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1
{txt}
{com}. dfbeta
{txt}(5,359 missing values generated)
                       _dfbeta_1: dfbeta(persrank)
(5,359 missing values generated)
                       _dfbeta_2: dfbeta(rightgov)
(5,359 missing values generated)
                       _dfbeta_3: dfbeta(leftgov)
(5,359 missing values generated)
                       _dfbeta_4: dfbeta(loggdppc)
(5,359 missing values generated)
                       _dfbeta_5: dfbeta(logpop)

{com}. list _dfbeta_1 country ccode year if abs(_dfbeta_1)>2/(46^.5) & _dfbeta_1!=.
{txt}
      {c TLC}{hline 11}{c -}{hline 9}{c -}{hline 7}{c -}{hline 6}{c TRC}
      {c |} {res}_dfbeta_1   country   ccode   year {txt}{c |}
      {c LT}{hline 11}{c -}{hline 9}{c -}{hline 7}{c -}{hline 6}{c RT}
2515. {c |} {res}-.3337702   Jamaica      51   1978 {txt}{c |}
2516. {c |} {res} -.329413   Jamaica      51   1979 {txt}{c |}
3930. {c |} {res}  .361174    Russia     365   2000 {txt}{c |}
5074. {c |} {res}-.3239624   Ukraine     369   1999 {txt}{c |}
5358. {c |} {res} .3950557    Zambia     551   1994 {txt}{c |}
      {c BLC}{hline 11}{c -}{hline 9}{c -}{hline 7}{c -}{hline 6}{c BRC}

{com}. gen outlier_dfbeta = 0
{txt}
{com}. replace outlier_dfbeta = 1 if abs(_dfbeta_1)>2/(46^.5) & _dfbeta_1!=.
{txt}(5 real changes made)

{com}. list countryyear if outlier_dfbeta==1
{txt}
      {c TLC}{hline 10}{c TRC}
      {c |} {res}countr~r {txt}{c |}
      {c LT}{hline 10}{c RT}
2515. {c |} {res}  511978 {txt}{c |}
2516. {c |} {res}  511979 {txt}{c |}
3930. {c |} {res} 3652000 {txt}{c |}
5074. {c |} {res} 3691999 {txt}{c |}
5358. {c |} {res} 5511994 {txt}{c |}
      {c BLC}{hline 10}{c BRC}

{com}. gen dummy1 = 0
{txt}
{com}. replace dummy1 = 1 if countryyear== 511978
{txt}(1 real change made)

{com}. gen dummy2 = 0
{txt}
{com}. replace dummy2 = 1 if countryyear== 511979
{txt}(1 real change made)

{com}. gen dummy3 = 0
{txt}
{com}. replace dummy3 = 1 if countryyear== 3652000
{txt}(1 real change made)

{com}. gen dummy4 = 0
{txt}
{com}. replace dummy4 = 1 if countryyear== 3691999
{txt}(1 real change made)

{com}. gen dummy5 = 0
{txt}
{com}. replace dummy5 = 1 if countryyear== 5511994
{txt}(1 real change made)

{com}. gen dummy6 = 0
{txt}
{com}. replace dummy6 = 1 if countryyear== 3502012
{txt}(1 real change made)

{com}. 
. *STUDENTIZED AND STANDARDIZED RESIDUALS
. qui reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1
{txt}
{com}. predict esta if e(sample), rstandard
{txt}(5,359 missing values generated)

{com}. predict estu if e(sample), rstudent
{txt}(5,359 missing values generated)

{com}. list countryyear if estu>abs(2) & estu!=.
{txt}
      {c TLC}{hline 10}{c TRC}
      {c |} {res}countr~r {txt}{c |}
      {c LT}{hline 10}{c RT}
1977. {c |} {res} 3502012 {txt}{c |}
      {c BLC}{hline 10}{c BRC}

{com}. gen outlier_rstu=0
{txt}
{com}. replace outlier_rstu=1 if estu>abs(2) & estu!=.
{txt}(1 real change made)

{com}. list countryyear if esta>abs(2) & esta!=.
{txt}
      {c TLC}{hline 10}{c TRC}
      {c |} {res}countr~r {txt}{c |}
      {c LT}{hline 10}{c RT}
1977. {c |} {res} 3502012 {txt}{c |}
      {c BLC}{hline 10}{c BRC}

{com}. 
. *LEVERAGE: COOKS DISTANCES & DFFITS
. qui reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1
{txt}
{com}. predict cook, cooksd, if e(sample)
{txt}(5,359 missing values generated)

{com}. gen outlier_cooks = 0
{txt}
{com}. replace outlier_cooks = 1 if cook>(4/46) & cook!=.
{txt}(4 real changes made)

{com}. qui reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1
{txt}
{com}. predict dffits, dfit, if e(sample)
{txt}(5,359 missing values generated)

{com}. gen outlier_dffit = 0
{txt}
{com}. replace outlier_dffit = 1 if dffits>(2*((7/46)^.5)) & dffits!=.
{txt}(3 real changes made)

{com}. 
. *Table A19
. reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1, cluster(ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}F(5, 23)          =  {res}     2.60
                                                {txt}Prob > F          = {res}    0.0524
                                                {txt}R-squared         = {res}    0.3132
                                                {txt}Root MSE          =    {res} 25.128

{txt}{ralign 78:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.841327{col 26}{space 2} 1.168509{col 37}{space 1}   -2.43{col 46}{space 3}0.023{col 54}{space 4}-5.258573{col 67}{space 3}-.4240813
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 5.982679{col 26}{space 2} 12.31916{col 37}{space 1}    0.49{col 46}{space 3}0.632{col 54}{space 4}-19.50144{col 67}{space 3}  31.4668
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 18.65703{col 26}{space 2} 14.69181{col 37}{space 1}    1.27{col 46}{space 3}0.217{col 54}{space 4} -11.7353{col 67}{space 3} 49.04936
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-13.15136{col 26}{space 2} 7.077985{col 37}{space 1}   -1.86{col 46}{space 3}0.076{col 54}{space 4}-27.79329{col 67}{space 3} 1.490564
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} 1.190669{col 26}{space 2} 3.939598{col 37}{space 1}    0.30{col 46}{space 3}0.765{col 54}{space 4}-6.959011{col 67}{space 3} 9.340349
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 118.4275{col 26}{space 2} 90.69784{col 37}{space 1}    1.31{col 46}{space 3}0.205{col 54}{space 4}-69.19529{col 67}{space 3} 306.0503
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELD1, title((D1))
{txt}
{com}. rreg haircut persrank rightgov leftgov loggdppc logpop if democratic==1

{txt}   Huber iteration 1:  maximum difference in weights = {res}.29459171
{txt}   Huber iteration 2:  maximum difference in weights = {res}.04331522
{txt}Biweight iteration 3:  maximum difference in weights = {res}.16165313
{txt}Biweight iteration 4:  maximum difference in weights = {res}.00897127

{txt}Robust regression                               Number of obs     = {res}        53
                                                {txt}F(  5,        47) = {res}      3.63
                                                {txt}Prob > F          = {res}    0.0074

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.867454{col 26}{space 2} 1.052117{col 37}{space 1}   -2.73{col 46}{space 3}0.009{col 54}{space 4} -4.98404{col 67}{space 3}-.7508678
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 5.591883{col 26}{space 2} 11.89959{col 37}{space 1}    0.47{col 46}{space 3}0.641{col 54}{space 4}  -18.347{col 67}{space 3} 29.53077
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 18.02871{col 26}{space 2} 12.10214{col 37}{space 1}    1.49{col 46}{space 3}0.143{col 54}{space 4}-6.317657{col 67}{space 3} 42.37508
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-14.18118{col 26}{space 2} 5.237307{col 37}{space 1}   -2.71{col 46}{space 3}0.009{col 54}{space 4}-24.71729{col 67}{space 3}-3.645079
{txt}{space 6}logpop {c |}{col 14}{res}{space 2}  1.28555{col 26}{space 2} 3.348643{col 37}{space 1}    0.38{col 46}{space 3}0.703{col 54}{space 4} -5.45105{col 67}{space 3}  8.02215
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 124.8729{col 26}{space 2}   68.051{col 37}{space 1}    1.83{col 46}{space 3}0.073{col 54}{space 4}-12.02802{col 67}{space 3} 261.7739
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. est store MODELD2, title((D2))
{txt}
{com}. bound haircut persrank rightgov leftgov loggdppc logpop if democratic==1, table gen(weights) //May need to install bound.ado

Some Regression Diagnostics

{txt}      Source {c |}       SS           df       MS      Number of obs   ={res}        53
{txt}{hline 13}{c +}{hline 34}   F(5, 47)        = {res}     4.29
{txt}       Model {c |} {res} 13532.9959         5  2706.59917   {txt}Prob > F        ={res}    0.0027
{txt}    Residual {c |} {res} 29675.5301        47  631.394258   {txt}R-squared       ={res}    0.3132
{txt}{hline 13}{c +}{hline 34}   Adj R-squared   ={res}    0.2401
{txt}       Total {c |} {res}  43208.526        52  830.933192   {txt}Root MSE        =   {res} 25.128

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.841327{col 26}{space 2} .9472565{col 37}{space 1}   -3.00{col 46}{space 3}0.004{col 54}{space 4}-4.746961{col 67}{space 3}-.9356928
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 5.982679{col 26}{space 2}  10.7136{col 37}{space 1}    0.56{col 46}{space 3}0.579{col 54}{space 4}-15.57031{col 67}{space 3} 27.53567
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 18.65703{col 26}{space 2} 10.89597{col 37}{space 1}    1.71{col 46}{space 3}0.093{col 54}{space 4}-3.262831{col 67}{space 3} 40.57689
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-13.15136{col 26}{space 2} 4.715325{col 37}{space 1}   -2.79{col 46}{space 3}0.008{col 54}{space 4}-22.63737{col 67}{space 3}-3.665351
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} 1.190669{col 26}{space 2} 3.014896{col 37}{space 1}    0.39{col 46}{space 3}0.695{col 54}{space 4} -4.87452{col 67}{space 3} 7.255858
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 118.4275{col 26}{space 2} 61.26863{col 37}{space 1}    1.93{col 46}{space 3}0.059{col 54}{space 4}-4.829093{col 67}{space 3} 241.6841
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

      {c TLC}{hline 8}{c -}{hline 8}{c -}{hline 7}{c -}{hline 7}{c -}{hline 8}{c -}{hline 10}{c -}{hline 7}{c -}{hline 7}{c TRC}
      {c |} {res}dfbeta   dffits    cook     hat     rstu   covratio      ld     ldp {txt}{c |}
      {c LT}{hline 8}{c -}{hline 8}{c -}{hline 7}{c -}{hline 7}{c -}{hline 8}{c -}{hline 10}{c -}{hline 7}{c -}{hline 7}{c RT}
 193. {c |} {res}-0.028    0.127   0.003   0.165    0.285     1.3490   0.026   0.000 {txt}{c |}
 532. {c |} {res}-0.279    0.524   0.044   0.093    1.639     0.8922   0.349   0.001 {txt}{c |}
1977. {c |} {res} 0.200    1.417   0.305   0.266    2.353     0.7839   2.514   0.133 {txt}{c |}
2515. {c |} {res}-0.334   -0.470   0.036   0.119   -1.279     1.0469   0.256   0.000 {txt}{c |}
2516. {c |} {res}-0.329   -0.471   0.036   0.119   -1.280     1.0470   0.258   0.000 {txt}{c |}
      {c LT}{hline 8}{c -}{hline 8}{c -}{hline 7}{c -}{hline 7}{c -}{hline 8}{c -}{hline 10}{c -}{hline 7}{c -}{hline 7}{c RT}
3930. {c |} {res} 0.361    0.811   0.106   0.193    1.659     0.9943   0.784   0.008 {txt}{c |}
4912. {c |} {res}-0.031   -0.046   0.000   0.173   -0.100     1.3746   0.012   0.000 {txt}{c |}
5074. {c |} {res}-0.324   -0.798   0.101   0.164   -1.805     0.9025   0.786   0.008 {txt}{c |}
5256. {c |} {res} 0.171   -0.592   0.055   0.079   -2.020     0.7420   0.514   0.002 {txt}{c |}
5358. {c |} {res} 0.395    0.814   0.105   0.169    1.807     0.9071   0.815   0.008 {txt}{c |}
      {c BLC}{hline 8}{c -}{hline 8}{c -}{hline 7}{c -}{hline 7}{c -}{hline 8}{c -}{hline 10}{c -}{hline 7}{c -}{hline 7}{c BRC}

(sum of wgt is 46.22733910447202)

      Source {c |}       SS           df       MS      Number of obs   ={res}        53
{txt}{hline 13}{c +}{hline 34}   F(5, 47)        = {res}     6.54
{txt}       Model {c |} {res} 15994.5345         5   3198.9069   {txt}Prob > F        ={res}    0.0001
{txt}    Residual {c |} {res}  22988.428        47   489.11549   {txt}R-squared       ={res}    0.4103
{txt}{hline 13}{c +}{hline 34}   Adj R-squared   ={res}    0.3476
{txt}       Total {c |} {res} 38982.9625        52  749.672356   {txt}Root MSE        =   {res} 22.116

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-3.086614{col 26}{space 2} .8418923{col 37}{space 1}   -3.67{col 46}{space 3}0.001{col 54}{space 4}-4.780283{col 67}{space 3}-1.392945
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 4.729005{col 26}{space 2} 9.611508{col 37}{space 1}    0.49{col 46}{space 3}0.625{col 54}{space 4}-14.60685{col 67}{space 3} 24.06487
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 15.83425{col 26}{space 2} 10.06486{col 37}{space 1}    1.57{col 46}{space 3}0.122{col 54}{space 4}-4.413626{col 67}{space 3} 36.08213
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-16.90506{col 26}{space 2} 4.677767{col 37}{space 1}   -3.61{col 46}{space 3}0.001{col 54}{space 4}-26.31552{col 67}{space 3} -7.49461
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} .7770192{col 26}{space 2} 2.721085{col 37}{space 1}    0.29{col 46}{space 3}0.776{col 54}{space 4}-4.697098{col 67}{space 3} 6.251136
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 155.0428{col 26}{space 2} 58.03668{col 37}{space 1}    2.67{col 46}{space 3}0.010{col 54}{space 4} 38.28808{col 67}{space 3} 271.7976
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}(5,359 missing values generated)

{com}. est store MODELD3, title((D3))
{txt}
{com}. list country year weights if e(sample) //For Table A18 Weights
{txt}
      {c TLC}{hline 21}{c -}{hline 6}{c -}{hline 11}{c TRC}
      {c |} {res}            country   year     weights {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
 185. {c |} {res}          Argentina   1985           1 {txt}{c |}
 187. {c |} {res}          Argentina   1987           1 {txt}{c |}
 193. {c |} {res}          Argentina   1993           1 {txt}{c |}
 205. {c |} {res}          Argentina   2005   .57483772 {txt}{c |}
 532. {c |} {res}            Bolivia   1988   .64849305 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
 537. {c |} {res}            Bolivia   1993           1 {txt}{c |}
 629. {c |} {res}             Brazil   1992           1 {txt}{c |}
 631. {c |} {res}             Brazil   1994           1 {txt}{c |}
 667. {c |} {res}           Bulgaria   1994           1 {txt}{c |}
 985. {c |} {res}              Chile   1990           1 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
1156. {c |} {res}         Costa Rica   1983           1 {txt}{c |}
1158. {c |} {res}         Costa Rica   1985           1 {txt}{c |}
1163. {c |} {res}         Costa Rica   1990           1 {txt}{c |}
1500. {c |} {res} Dominican Republic   2005           1 {txt}{c |}
1514. {c |} {res}            Ecuador   1983   .70905033 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
1515. {c |} {res}            Ecuador   1984   .67954841 {txt}{c |}
1516. {c |} {res}            Ecuador   1985           1 {txt}{c |}
1526. {c |} {res}            Ecuador   1995           1 {txt}{c |}
1531. {c |} {res}            Ecuador   2000           1 {txt}{c |}
1977. {c |} {res}             Greece   2012   .23996813 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
2137. {c |} {res}             Guyana   1992   .89044582 {txt}{c |}
2144. {c |} {res}             Guyana   1999   .72608914 {txt}{c |}
2206. {c |} {res}           Honduras   1989           1 {txt}{c |}
2218. {c |} {res}           Honduras   2001   .86097631 {txt}{c |}
2515. {c |} {res}            Jamaica   1978   .72410423 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
2516. {c |} {res}            Jamaica   1979    .7217942 {txt}{c |}
2518. {c |} {res}            Jamaica   1981           1 {txt}{c |}
2521. {c |} {res}            Jamaica   1984           1 {txt}{c |}
2522. {c |} {res}            Jamaica   1985           1 {txt}{c |}
2524. {c |} {res}            Jamaica   1987           1 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
2527. {c |} {res}            Jamaica   1990           1 {txt}{c |}
3161. {c |} {res}            Moldova   2002   .59694714 {txt}{c |}
3163. {c |} {res}            Moldova   2004           1 {txt}{c |}
3430. {c |} {res}          Nicaragua   1995           1 {txt}{c |}
3442. {c |} {res}          Nicaragua   2007   .87645517 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
3636. {c |} {res}             Panama   1994           1 {txt}{c |}
3638. {c |} {res}             Panama   1996   .70563831 {txt}{c |}
3707. {c |} {res}           Paraguay   1993           1 {txt}{c |}
3816. {c |} {res}             Poland   1994           1 {txt}{c |}
3930. {c |} {res}             Russia   2000   .41932761 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
4295. {c |} {res}           Slovenia   1996   .73152109 {txt}{c |}
4912. {c |} {res}Trinidad and Tobago   1989           1 {txt}{c |}
5073. {c |} {res}            Ukraine   1998           1 {txt}{c |}
5074. {c |} {res}            Ukraine   1999   .42580828 {txt}{c |}
5075. {c |} {res}            Ukraine   2000           1 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
5165. {c |} {res}            Uruguay   1986           1 {txt}{c |}
5167. {c |} {res}            Uruguay   1988           1 {txt}{c |}
5170. {c |} {res}            Uruguay   1991           1 {txt}{c |}
5182. {c |} {res}            Uruguay   2003           1 {txt}{c |}
5255. {c |} {res}          Venezuela   1986   .70406875 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c RT}
5256. {c |} {res}          Venezuela   1987   .57459084 {txt}{c |}
5259. {c |} {res}          Venezuela   1990           1 {txt}{c |}
5358. {c |} {res}             Zambia   1994   .41767459 {txt}{c |}
      {c BLC}{hline 21}{c -}{hline 6}{c -}{hline 11}{c BRC}

{com}. set seed 87934
{txt}
{com}. bootstrap, reps(1000): reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1
{txt}(running regress on estimation sample)
{res}
{txt}Bootstrap replications ({res}1000{txt})
{hline 4}{c +}{hline 3} 1 {hline 3}{c +}{hline 3} 2 {hline 3}{c +}{hline 3} 3 {hline 3}{c +}{hline 3} 4 {hline 3}{c +}{hline 3} 5 
..................................................    50
..................................................   100
..................................................   150
..................................................   200
..................................................   250
..................................................   300
..................................................   350
..................................................   400
..................................................   450
..................................................   500
..................................................   550
..................................................   600
..................................................   650
..................................................   700
..................................................   750
..................................................   800
..................................................   850
..................................................   900
..................................................   950
..................................................  1000
{res}
{txt}Linear regression{col 49}Number of obs{col 67}= {res}        53
{txt}{col 49}Replications{col 67}= {res}     1,000
{txt}{col 49}Wald chi2({res}5{txt}){col 67}= {res}     20.87
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0009
{txt}{col 49}R-squared{col 67}= {res}    0.3132
{txt}{col 49}Adj R-squared{col 67}= {res}    0.2401
{txt}{col 49}Root MSE{col 67}= {res}   25.1276

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}   Observed{col 26}   Bootstrap{col 54}         Norm{col 67}al-based
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.841327{col 26}{space 2} .9864882{col 37}{space 1}   -2.88{col 46}{space 3}0.004{col 54}{space 4}-4.774808{col 67}{space 3}-.9078457
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 5.982679{col 26}{space 2} 10.94939{col 37}{space 1}    0.55{col 46}{space 3}0.585{col 54}{space 4}-15.47773{col 67}{space 3} 27.44308
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 18.65703{col 26}{space 2} 12.33569{col 37}{space 1}    1.51{col 46}{space 3}0.130{col 54}{space 4}-5.520473{col 67}{space 3} 42.83453
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-13.15136{col 26}{space 2} 6.565439{col 37}{space 1}   -2.00{col 46}{space 3}0.045{col 54}{space 4}-26.01939{col 67}{space 3}-.2833381
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} 1.190669{col 26}{space 2}  3.16481{col 37}{space 1}    0.38{col 46}{space 3}0.707{col 54}{space 4}-5.012244{col 67}{space 3} 7.393582
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 118.4275{col 26}{space 2} 77.09175{col 37}{space 1}    1.54{col 46}{space 3}0.124{col 54}{space 4}-32.66957{col 67}{space 3} 269.5245
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{com}. est store MODELD4, title((D4))
{txt}
{com}. reg haircut persrank rightgov leftgov loggdppc logpop if democratic==1 & outlier_dfbeta==0, cluster(ccode)

{txt}Linear regression                               Number of obs     = {res}        48
                                                {txt}F(5, 21)          =  {res}     2.82
                                                {txt}Prob > F          = {res}    0.0421
                                                {txt}R-squared         = {res}    0.3613
                                                {txt}Root MSE          =    {res}  23.34

{txt}{ralign 78:(Std. Err. adjusted for {res:22} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.574341{col 26}{space 2} 1.043961{col 37}{space 1}   -2.47{col 46}{space 3}0.022{col 54}{space 4}-4.745377{col 67}{space 3}-.4033058
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 11.08444{col 26}{space 2} 10.78702{col 37}{space 1}    1.03{col 46}{space 3}0.316{col 54}{space 4} -11.3484{col 67}{space 3} 33.51728
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 22.91844{col 26}{space 2} 13.67583{col 37}{space 1}    1.68{col 46}{space 3}0.109{col 54}{space 4}-5.522012{col 67}{space 3} 51.35889
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-12.29182{col 26}{space 2}  7.01474{col 37}{space 1}   -1.75{col 46}{space 3}0.094{col 54}{space 4}-26.87977{col 67}{space 3} 2.296126
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} .1057132{col 26}{space 2} 3.772651{col 37}{space 1}    0.03{col 46}{space 3}0.978{col 54}{space 4}-7.739943{col 67}{space 3}  7.95137
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 124.8204{col 26}{space 2} 86.66458{col 37}{space 1}    1.44{col 46}{space 3}0.165{col 54}{space 4} -55.4085{col 67}{space 3} 305.0492
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELD5, title((D5))
{txt}
{com}. reg haircut persrank rightgov leftgov loggdppc logpop dummy1 dummy2 dummy3 dummy4 dummy5 if democratic==1, cluster(ccode)

{txt}Linear regression                               Number of obs     = {res}        53
                                                {txt}{help j_robustsingular:F(5, 23) }         =  {res}        .
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.4705
                                                {txt}Root MSE          =    {res}  23.34

{txt}{ralign 78:(Std. Err. adjusted for {res:24} clusters in ccode)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     haircut{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}persrank {c |}{col 14}{res}{space 2}-2.574341{col 26}{space 2} 1.095915{col 37}{space 1}   -2.35{col 46}{space 3}0.028{col 54}{space 4}-4.841415{col 67}{space 3}-.3072678
{txt}{space 4}rightgov {c |}{col 14}{res}{space 2} 11.08444{col 26}{space 2} 11.32386{col 37}{space 1}    0.98{col 46}{space 3}0.338{col 54}{space 4}-12.34074{col 67}{space 3} 34.50962
{txt}{space 5}leftgov {c |}{col 14}{res}{space 2} 22.91844{col 26}{space 2} 14.35643{col 37}{space 1}    1.60{col 46}{space 3}0.124{col 54}{space 4}-6.780104{col 67}{space 3} 52.61698
{txt}{space 4}loggdppc {c |}{col 14}{res}{space 2}-12.29182{col 26}{space 2}  7.36384{col 37}{space 1}   -1.67{col 46}{space 3}0.109{col 54}{space 4}-27.52509{col 67}{space 3} 2.941439
{txt}{space 6}logpop {c |}{col 14}{res}{space 2} .1057132{col 26}{space 2} 3.960403{col 37}{space 1}    0.03{col 46}{space 3}0.979{col 54}{space 4}-8.087004{col 67}{space 3}  8.29843
{txt}{space 6}dummy1 {c |}{col 14}{res}{space 2}-33.62521{col 26}{space 2} 9.086364{col 37}{space 1}   -3.70{col 46}{space 3}0.001{col 54}{space 4}-52.42178{col 67}{space 3}-14.82863
{txt}{space 6}dummy2 {c |}{col 14}{res}{space 2}  -33.548{col 26}{space 2} 9.198246{col 37}{space 1}   -3.65{col 46}{space 3}0.001{col 54}{space 4}-52.57602{col 67}{space 3}-14.51998
{txt}{space 6}dummy3 {c |}{col 14}{res}{space 2} 41.69361{col 26}{space 2} 13.69515{col 37}{space 1}    3.04{col 46}{space 3}0.006{col 54}{space 4} 13.36303{col 67}{space 3} 70.02419
{txt}{space 6}dummy4 {c |}{col 14}{res}{space 2}-40.99308{col 26}{space 2} 12.87043{col 37}{space 1}   -3.19{col 46}{space 3}0.004{col 54}{space 4} -67.6176{col 67}{space 3}-14.36857
{txt}{space 6}dummy5 {c |}{col 14}{res}{space 2} 39.29374{col 26}{space 2} 14.24405{col 37}{space 1}    2.76{col 46}{space 3}0.011{col 54}{space 4} 9.827667{col 67}{space 3} 68.75981
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 124.8204{col 26}{space 2} 90.97759{col 37}{space 1}    1.37{col 46}{space 3}0.183{col 54}{space 4}-63.38111{col 67}{space 3} 313.0218
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. est store MODELD6, title((D6))
{txt}
{com}. estout MODELD1 MODELD2 MODELD3 MODELD4 MODELD5 MODELD6, cells(b(star fmt(3)) se(par fmt(3))) starlevels($^{c -(}+{c )-}$ 0.10 $^{c -(}*{c )-}$ 0.05 $^{c -(}**{c )-}$ 0.01 $^{c -(}***{c )-}$ 0.001) stats(N N_g r2, fmt(0 0 3) label(Observations Countries R$^2$)) label,  using "tablea19.tex", replace style(tex)
{res}{txt}(note: file tablea19.tex not found)
(output written to {browse  `"tablea19.tex"'})

{com}. 
. *Table A17
. list country year _dfbeta_1 dffits cook estu esta if e(sample)
{txt}
      {c TLC}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c TRC}
      {c |} {res}            country   year   _dfbeta_1      dffits       cook        estu        esta {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
 185. {c |} {res}          Argentina   1985    .0048115   -.0137042    .000032    -.038041   -.0384516 {txt}{c |}
 187. {c |} {res}          Argentina   1987    .0347233   -.1051767   .0018803   -.2908515   -.2937259 {txt}{c |}
 193. {c |} {res}          Argentina   1993   -.0281829    .1268455   .0027351    .2848731    .2876992 {txt}{c |}
 205. {c |} {res}          Argentina   2005   -.0949463    .5914713   .0568869    1.474042    1.455988 {txt}{c |}
 532. {c |} {res}            Bolivia   1988   -.2792266    .5242924   .0442268    1.639055    1.610416 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
 537. {c |} {res}            Bolivia   1993   -.1645109    .3049239   .0155015     .992317    .9924786 {txt}{c |}
 629. {c |} {res}             Brazil   1992    .0419026    .1743033   .0051555    .4031216    .4067619 {txt}{c |}
 631. {c |} {res}             Brazil   1994    .0775831    .2948752   .0146627    .6727372    .6766896 {txt}{c |}
 667. {c |} {res}           Bulgaria   1994   -.0522035    .0959332   .0015632    .3441194    .3473929 {txt}{c |}
 985. {c |} {res}              Chile   1990   -.0051727   -.0553618   .0005216   -.1602582   -.1619456 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
1156. {c |} {res}         Costa Rica   1983     .059195   -.1634403   .0045075   -.6501059   -.6541361 {txt}{c |}
1158. {c |} {res}         Costa Rica   1985    .0635361   -.1812505   .0055293   -.7354412   -.7390599 {txt}{c |}
1163. {c |} {res}         Costa Rica   1990   -.0689201    .2231193   .0083285     .907039    .9087546 {txt}{c |}
1500. {c |} {res} Dominican Republic   2005    .0206009   -.2393908   .0096702   -.6497567   -.6537879 {txt}{c |}
1514. {c |} {res}            Ecuador   1983    .1652897   -.4795146   .0379284   -1.219944   -1.213656 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
1515. {c |} {res}            Ecuador   1984      .17426   -.5003323   .0411827   -1.271036   -1.262794 {txt}{c |}
1516. {c |} {res}            Ecuador   1985    .1433508   -.2885925   .0138367   -1.072512   -1.070801 {txt}{c |}
1526. {c |} {res}            Ecuador   1995   -.0112529    .0238937   .0000972    .0860123    .0869352 {txt}{c |}
1531. {c |} {res}            Ecuador   2000     .082084   -.2229317   .0083445   -.8089049   -.8118961 {txt}{c |}
1977. {c |} {res}             Greece   2012    .2002994    1.416855   .3051261    2.353053    2.247096 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
2137. {c |} {res}             Guyana   1992   -.1170705    .3818312   .0244148    .8816785    .8837742 {txt}{c |}
2144. {c |} {res}             Guyana   1999   -.1379994    .4682621   .0360255    1.295243    1.286005 {txt}{c |}
2206. {c |} {res}           Honduras   1989   -.1396504     .263067   .0116068    .8397869    .8424327 {txt}{c |}
2218. {c |} {res}           Honduras   2001   -.2154969    .3949005   .0254308    1.426716    1.411254 {txt}{c |}
2515. {c |} {res}            Jamaica   1978   -.3337702   -.4695457   .0362552   -1.278904   -1.270343 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
2516. {c |} {res}            Jamaica   1979    -.329413   -.4710484   .0364851    -1.28022   -1.271605 {txt}{c |}
2518. {c |} {res}            Jamaica   1981   -.0302182   -.0481911   .0003953   -.1390517   -.1405255 {txt}{c |}
2521. {c |} {res}            Jamaica   1984   -.0355462   -.0588204   .0005888   -.1720463   -.1738503 {txt}{c |}
2522. {c |} {res}            Jamaica   1985     .064521    .1100031   .0020561    .3198642    .3229633 {txt}{c |}
2524. {c |} {res}            Jamaica   1987    .1309112    .2062384   .0071865    .6023633    .6064883 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
2527. {c |} {res}            Jamaica   1990    .1985177    .2654207   .0118628    .7203801    .7240952 {txt}{c |}
3161. {c |} {res}            Moldova   2002    .2112915   -.5695646   .0526728   -1.498095    -1.47865 {txt}{c |}
3163. {c |} {res}            Moldova   2004    .0470649   -.1200831   .0024476   -.3871283   -.3906777 {txt}{c |}
3430. {c |} {res}          Nicaragua   1995   -.1369426     .339633   .0190454    1.201422    1.195795 {txt}{c |}
3442. {c |} {res}          Nicaragua   2007   -.1553221    .3879263   .0243364    1.561521    1.538162 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
3636. {c |} {res}             Panama   1994   -.0098055   -.0350999   .0002097   -.1079351   -.1090882 {txt}{c |}
3638. {c |} {res}             Panama   1996    .0991606    .4818332   .0386533    1.024373    1.023836 {txt}{c |}
3707. {c |} {res}           Paraguay   1993     .076036   -.1498613   .0037988   -.5573422   -.5614752 {txt}{c |}
3816. {c |} {res}             Poland   1994   -.0007832    .0643219    .000704    .1827129    .1846213 {txt}{c |}
3930. {c |} {res}             Russia   2000     .361174    .8108219   .1056305    1.659444    1.629324 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
4295. {c |} {res}           Slovenia   1996   -.0205152    -.464785   .0359783   -1.016759   -1.016393 {txt}{c |}
4912. {c |} {res}Trinidad and Tobago   1989   -.0310696   -.0455883   .0003538   -.0995338   -.1005991 {txt}{c |}
5073. {c |} {res}            Ukraine   1998   -.1315086    -.295486   .0147127   -.6975749   -.7014163 {txt}{c |}
5074. {c |} {res}            Ukraine   1999   -.3239624   -.7984814   .1013938   -1.804624   -1.762801 {txt}{c |}
5075. {c |} {res}            Ukraine   2000   -.1101184   -.2708443   .0123905    -.613462   -.6175731 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
5165. {c |} {res}            Uruguay   1986    .0196299   -.1028213   .0017941   -.3989258   -.4025429 {txt}{c |}
5167. {c |} {res}            Uruguay   1988    .0148713   -.1089726   .0020155    -.392068   -.3956462 {txt}{c |}
5170. {c |} {res}            Uruguay   1991   -.0002475    .0027354   1.27e-06    .0089054    .0090017 {txt}{c |}
5182. {c |} {res}            Uruguay   2003    .0185145   -.2048818   .0070791   -.6699676   -.6739306 {txt}{c |}
5255. {c |} {res}          Venezuela   1986    .1189722   -.4829074   .0376251   -1.597136   -1.571421 {txt}{c |}
      {c LT}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c RT}
5256. {c |} {res}          Venezuela   1987    .1711769   -.5917254   .0547683   -2.019707   -1.956629 {txt}{c |}
5259. {c |} {res}          Venezuela   1990    .0549319    -.189081   .0060354   -.6341944   -.6382664 {txt}{c |}
5358. {c |} {res}             Zambia   1994    .3950557    .8140308   .1053645    1.806795     1.76478 {txt}{c |}
      {c BLC}{hline 21}{c -}{hline 6}{c -}{hline 11}{c -}{hline 11}{c -}{hline 10}{c -}{hline 11}{c -}{hline 11}{c BRC}

{com}. 
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